4:00 PM Frankfurt – Air Liquide is in talk to sell its scuba diving-equipment unit to Montagu Private Equity. Orange received regulatory approval to acquire 65% stake of Groupama Banque. SVG Capital agreed to sell 50% of its investment portfolio. Tesco net loss narrowed but sales jumped.
In London trading, FTSE 100 index dropped 40.49 or 0.6% to 7,035.01 and in Frankfurt the DAX index fell 30.95 or 0.3% to 10,588.66.
In Paris, CAC 40 index slipped 10.52 or 0.2% to 4,493.31.
Air Liquide SA
fell 0.9% to €96.18 after France-based industrial gas supplier is in talk to divest its Aqua Lung, the scuba diving-equipment-making business to Montagu Private Equity without disclosing financial terms.
decreased 1.3% to €13.86 after France-based mobile operator received approval from regulatory and prudential authorities in France and Europe to acquire 65% stake of Groupama Banque and renamed Orange Bank from January 2017.
SVG Capital Plc
slipped 0.6% to 670 pence after the U.K.-based private equity investor agreed to sell 50% of its investment portfolio to Pomona Capital and Pantheon Ventures for £379 million and close the operations by the end of 2017.
On Tuesday, HarbourVest urged shareholders of SVG to accept offer of 650 pence per share.
In mid-September, SVG refused takeover offer from its U.S.-based rival HarbourVest for £1 billion or $1.35 billion and the company is in talks with consortium led by Goldman Sachs Group Inc and the Canadian Pension Plan Investment Board.
surged 11% to 209.45 pence after the U.K.-based supermarkets operator reported revenues in the first-half ending on August 27 jumped 3.3% from a year ago to £24.4 billion.
Comparable sales in the period decreased 0.9%.
Net loss in the period narrowed from a year ago to £91 million compared to the £365 million and diluted loss per share fell to 1.12 pence from 4.47 pence.
Tesco forecasted operating profit in the year of about £1.2 billion and estimated operating margin between 3.5% and 4% by fiscal 2020 and £1.4 billion per year in capital expenditure in the next three years.