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Midday Briefing – Companies and Markets -2- | 08/31/21

Deutsche Wohnen SE’s Board of Directors and Supervisory Board formally expressed their support for Vonovia SE’s new takeover offer on Tuesday and recommended to shareholders to accept it in a reasoned statement.

German Lufthansa

After a relatively good summer season, Deutsche Lufthansa is preparing to perform weaker business in the winter due to the high number of infections with Covid 19. On Monday morning, CEO Carsten Spohr told reporters: “We are also preparing, of course, the fourth wave keywords, and with the new numbers coming in On our way recently, it’s going to be another long cold winter for us as an airline.” .


Arms company and auto supplier Rheinmetall received an order from an unnamed American turbocharger manufacturer. Approximately 1.5 million of the latest generation transformer valves will be delivered over the contract period of approximately four years. Production at the Neuss plant will start in 2023.

Heidelberger print

Heidelberger Druck is selling a software subsidiary and now expects a better EBITDA margin for the current fiscal year due to higher income from asset management than expected at the beginning of the year. The EBITDA margin for the full year 2021/22 by the end of March should be 7 to 7.5 percent instead of 6 to 7 percent. From the sale of the subsidiary Docufy GmbH from Bamberg, the company expects a one-time income of more than 20 million euros.

ADler Group

After a strong development in the first half of 2021, real estate firm Adler raised its full-year forecast. The company now aims to have a net rental income of 340 to 345 million euros and FFO 1 of 135 to 140 million euros in 2021. With a payout ratio of 50 per cent, dividends will increase by about 27 per cent to 0.57 euros to 0.60 euros. for each share. So far, SDAX has forecast net rental income of €325-339 million and FFO1 of €127-133 million for the current year.

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The French Specialty Chemicals Group handles the performance adhesives business for US competitor Ashland. Arkema has estimated the project’s business value at $1.65 billion. The French want to grab the money.


Essilorluxottica plans to buy back up to two million shares of its stock. The buy-back program can be worth up to 400 million euros. Because according to the conditions set at this year’s general meeting, Essilorluxottica can buy back its shares with a maximum of 200 euros per share.


Naspers’ subsidiary Prosus promotes digital payment systems in India. As Prosus announced, PayU, Prosus’ payments and fintech business, will acquire India’s Billdesk, a payment platform, for $4.7 billion. Seller is Ltd.


Hedge fund Pershing Square Holdings Ltd continues to grow Vivendi’s Universal Music Group. Pershing to acquire another 2.9% of UMG for $1.15 billion. Pershing now owns 10 percent of UMG, the two companies agreed in June. Pershing previously owned 7.1 percent of UMG.


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DJG / cln

(end) Dow Jones Newswires

August 31, 2021, 07:06 ET (11:06 GMT)