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Market Update

easyJet Traffic in May Jumps, Intertrust Acquires Electra Partners for £435 M

Author: Sarla Buch
Last Update: 3:03 PM ET June 06 2016

4:00 PM Frankfurt – easyJet passenger count in May jumped 5.7% but load factor edged down. Intertrust agreed to acquire Elian Group from Electra Partners LLP for about £435 million. KUKA plans to assess a possible European takeover and overlook bid from China-based Midea Group.

European markets traded higher and in the absence of domestic news indexes piggy backed more than 1% gain in New York trading.

In London trading, FTSE 100 index jumped 81.92 or 1.3% to 6,291.52 and in Frankfurt the DAX index increased 26.42 or 0.3% to 10,129.40.

In Paris, CAC 40 index gained 7.18 or 0.2% to 4,429.08.

easyJet Plc slipped 1.5% to 1,501 pence after the U.K.-based airline company said total passenger numbers in May jumped 5.7% to 6,861,040 from 6,490,974 passengers while load factor in the month edged down to 91.5% from 91.6% in a year ago month.

Intertrust NV soared 7.5% to €19.22 after the Netherlands-based trust and corporate services provider agreed to acquire Elian Group, Elian''s management and funds managed by Electra Partners LLP for about £435 million.

However, from the completion of the deal Electra is expected to receive total proceeds of £200 million.

The transaction is expected to complete in third-quarter of this year.

KUKA AG fell 0.3% to €107.45 after the Germany-based industrial robots maker’s chief executive officer Till Reuter said the company plans to assess a possible European takeover but “it is wrong to assume” an offer by China''s Midea Group Co Ltd would take priority over the bid.

Swallowfield Plc surged 19.6% to 195 pence after the U.K.-based personal care and beauty products maker said it plans to raise up to £8.6 million in a conditional placing alongside a new debt facility, to fund the acquisition.

The personal care and beauty products maker also conditional agreed to acquire The Brand Architekts for about £11 million.

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