Additional European Equity News

AstraZeneca (AZN LN) – Co. announced that it has entered into a definitive agreement to acquire Amolyt Pharma, a clinical-stage biotechnology company focused on developing novel treatments for rare endocrine diseases. AstraZeneca will acquire all of Amolyt Pharma’s outstanding shares for a total consideration of up to USD 1.05bln, on a cash and debt free basis. This includes USD 800mln upfront at deal closing, plus the right for Amolyt Pharma’s shareholders to receive an additional contingent payment of USD 250mln payable upon achievement of a specified regulatory milestone. (AstraZeneca)

Commerzbank (CBK GY)/ German Property Names - Commerzbank Head of Real Estate said Germany is midway through a four-year real estate crisis that will lead to more losses and distressed sales of unwanted properties. The head said there is about two years of crisis left in front of us. (Newswires) 

Deliveroo (ROO LN) – FY (GBP): Revenue 2.03bln (exp. 2.03bln). Net Income -31.8mln (exp. -60mln). FCF expected to be positive for FY24. GTV growth anticipated to be in the range between 5-9%. (Newswires)

Deutsche Bank (DBK GY) - Affirms FY24 Revenue EUR 30bln. Investment banking revenue seen higher in 2024 Y/Y. (Newswires) 

Engie (ENGI FP) – Successfully places around 2mln Gaztransport et Technigaz (GTT FP) shares at a price of EUR 137/shr. (Newswires) GTT last closed at 142.50/shr. (Newswires)

Encavis (ECV GY) - KKR offers to buy Encavis for EUR 17.50/shr (vs 13.41 close on Wednesday). FY Revenue 449.1mln (exp. 458.6mln). Operating Cash Flow 234.9mln. (Newswires) 

Halma (HLMA LN) - Affirms FY24 Guidance. (Newswires) 

IG Group (IGG LN) – Q3 (GBP): Revenue 240mln (prev. 229mln Q/Q), active clients 266k (prev. 263k Q/Q), first trades 18k (prev. 16.6k Q/Q). CFO Rozes to step down from 31st July. (Newswires)

Infineon (IFX GY) - Sues Innoscience for patent infringement, via Reuters. (Reuters)

UK FCA – “We will be pragmatic when looking at enforcement of the Consumer Duty…” & “We are not a price regulator and we will not stand in the way of well-run businesses making profits in the face of effective competition.”. (FCA)

Verbund (VER AV) - FY23 (EUR): EBIT 3.50bln (exp. 3.85bln), Revenue 10.5bln (exp. 12.1bln). (Newswires) 

Vistry (VTY LN) - FY23 (EUR): Adj. Pretax 419mln (exp. 418mln), Revenue 3.56bln (exp. 3.73bln). (Newswires) 

Worldline (WLN FP) - Worldline Italia enters exclusive negotiations with Cassa Centrale. (Newswires)

14 Mar 2024 - 07:32- Research Sheet- Source: Newsquawk