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Market Update

Aegon to Sell U.S. Unit Stake to Scor, Orlen Bids for Unipetrol


Author: Sarla Buch
ticker.com
Last Update: 10:44 AM EST December 28 2017

4:00 PM Frankfurt Aegon plans to sell stake in the U.S. unit to France-based rival Scor SE. Nighthawk Energy agreed with its creditor to amend existing bank agreement. PKN Orlen oil refiner offered 380 crowns per share in its Czech downstream oil unit Unipetrol.

In London trading, FTSE 100 index edged up 2.19 to 7,622.80 and in Frankfurt the DAX index fell 19.84 or 0.2% to 13,050.54.

In Paris, CAC 40 index slid 8.98 or 0.2% to 5,359.44.

Aegon N.V. increased 1.3% to 5.34 after the Netherlands-based insurer said it would sell part of the remaining stake it holds in its U.S. life insurance unit to France-based property and life reinsurer Scor SE.

The transaction will be reported as other charges in the fourth-quarter 2017 results as expected pre-tax loss of about $125 million.

Nighthawk Energy Plc surged 34.5% to 0.37 pence after the U.K.-based oil and gas explorer agreed with its creditor to amend the covenant on its existing $21.3 million bank agreement after the issue of a waiver in October.

PKN Orlen S.A, the Poland-based oil refiner offered 380 crowns per share in its Czech downstream oil unit Unipetrol.

Separately today, PKN Orlen filed with the Warsaw Stock Exchange that first day of trading of PKN ORLEN series B bonds will be on December 29, 2017.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc