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Market Update

Electrolux in $3.3 B deal with GE, Ryanair Orders 200 Boeing Planes

Author: Nigel Thomas
Last Update: 12:02 PM ET September 08 2014

4:00 PM Frankfurt – Auriga sells Cheminova unit to FMC Corp for 10.5 billion kronor. Electrolux agreed to acquire GE’s appliances business for $3 billion. L''Oreal to buys Brazil based hair care company for €140 million. Ryanair ordered 200 Boeing''s 737 MAX 200.

In London trading, FTSE 100 index slipped 0.5% or 35.59 to 6,819.51 and in Frankfurt the DAX index was flat at 9,746.77.

In Paris, CAC 40 index slid 0.2% or 11.38 to 4,475.11.

Auriga Industries A/S gained 1.3% to 309 kronor after the Denmark-based crop protection products maker agreed to sell its Cheminova unit to the U.S.-based chemicals firm FMC Corporation for 10.5 billion kronor or $1.8 billion.

Electrolux AB climbed 4.6% to 196.20 kronor after the Sweden-based home appliances maker agreed to acquire appliances business of General Electric Co for about for $3.3 billion in cash.

The acquisition is expected to close during 2015.

L''Oreal SA slipped 1.1% to €127.10 after the France-based cosmetic products maker agreed to acquire Brazil-based Niely Cosmeticos Group, a private hair coloration and hair care company for undisclosed amount.

L''Oreal said net revenue in fiscal 2013 was 405 million Brazilian Reals or €140 million from a year ago.

Latvijas Gaze AS dropped 1.1% to €9.20 after the Latvia-based energy suppler received acquisition offer from Germany-based E.ON for about€175 million or $226.6 million.

Ryanair Holdings Plc fell 0.8% to €7.49 after the Ireland-based discount carrier agreed to purchase as much as 200 new Boeing''s 737 MAX 200 jetliner valued at $22 billion at list prices.

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