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French and Benelux stocks-Factors to watch on Jan 8
January 8, 2014 / 6:18 AM / in 4 years

French and Benelux stocks-Factors to watch on Jan 8

Below are company-related news and stories from French and Benelux media which could have an impact on the region’s markets or individual stocks.

TDF

Private equity firm Dering Capital is in advanced talks to buy French broadcasting masts operator TDF, and is the last remaining bidder after a Canadian consortium dropped out, Les Echos reported.

NATIXIS

The French bank has received a government query over the details of its plan to cut around 700 jobs as part of the bank’s cost-cutting drive to offset a weak economic recovery.

SODEXO

The French catering and vouchers group posted a 1.9 percent fall in first-quarter revenue because of weak currencies in Latin America and a slowdown in Brazil and China.

L‘OREAL

The French cosmetics giant has halted sales of Garnier beauty products in China to focus on other brands, a week after U.S. rival Revlon pulled out completely from the slowing China market. China’s $25.9 billion cosmetics market is the third biggest in the world.

AIRBUS GROUP

Allan McArtor, who heads Airbus U.S. commercial operations, will take over as chairman and chief executive of the overall U.S. unit of the European weapons and planemaker on March 1, replacing Sean O‘Keefe, the company said Tuesday.

Separately, O‘Keefe, said in an interview that uncertainty about U.S. budget levels is limiting the prospects for increased merger and acquisition activity in the defense industry.

GECINA

Property group Gecina said it had renewed two credit lines with two French banks for 510 million euros, which were set up in 2010 and due to mature in 2014 and 2015. Gecina also repaid 140 million euros of mortgage facilities in connection with the diversification of its financial resources.

DEXIA

The Franco-Belgian financial group has agreed to sell its 40 percent stake in private bank Popular Banca Privada to its joint venture partner Banco Popular POP.MC for 49.2 million euros.

VAN DE VELDE

Belgian lingerie maker said its turnover increased slightly in 2013, as a strong showing of its Rigby & Peller brand in continental Europe made up for declines in its U.S. business.

KBC

The Belgian financial group will pay back 500 million euros ($680.33 million) of state aid to the Flemish regional government.

BOUYGUES

Bouygues Energies & Services and its subsidiary, Axione, in partnership with Sobeca, have won a contract worth 97 million euros to carry out the first phase of deploying a fibre-optic network in the Oise department, in northern France.

M6

France’s second-biggest private broadcaster has agreed to buy 51 percent of Best of TV, a company that distributes products from home shopping shows to physical stores. M6, which also has a TV-based home shopping business, said Best of TV posted 19 million euros in sales last year.

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