Additional European Equity News

Akzo Nobel (AKZA NA), JSW Steel (JSTL) - JSW Group agreed to acquire up to 75% of Akzo Nobel’s Indian business for about EUR 1.4bln, including debt. The deal is expected to close in Q4 2025, and will generate approximately EUR 900mln in net cash proceeds for Akzo Nobel. (Newswires) 

Bayer (BAYN GY) - Eylea 8mg with extended 6-month treatment interval approved in the EU. (Newswires)

BBVA (BBVA SM) - Co. is considering continuing its takeover bid for Banco Sabadell (SAB SM) and consulting investors for support after Spain ruled the banks could not fully merge for several years, Bloomberg reports. BBVA believes most cost savings remain achievable, albeit more slowly, but the final decision depends on backing from key investors. (Bloomberg)

Heathrow - Forecasts 84.2mln passengers for 2025. To submit the expansion plan by summer. (Newswires)   

UAE Crude, BP (BP/ LN), TotalEnergies (TTE FP) - UAE’s surprise cut to Murban crude supply to partners including BP and TotalEnergies caused trading losses due to hedging mismatches in derivatives, with losses reaching up to USD 12/bbl for some equity shareholders, steep relative to typical profits of a few cents per barrel, Bloomberg reports. 

RTL Group (RTL GY) - Co. to purchase Sky Deutschland, for EUR 150mln upfront and as much as EUR 377mln in variable consideration. (Newswires)

Shell (SHEL LN) PT raised to 2,860p (prev. 2,027) at Morgan Stanley