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French and Benelux stocks factors to watch on Jan 12

French and Benelux stocks factors to watch on Jan 12

PARIS: Edenred increased its stake in UTA to 83 percent. GROUPE GORGE Groupe Gorge and Prezioso Linjebygg joined forces in the nuclear segment and won their first contract. KARDAN Kardan said on Thursday it will not be able to complete a transaction for the sale of its holdings in TGI in a manner that will enable it to meet the upcoming payments to the debenture holders in February 2018. It intends to approach the debenture holders in order to negotiate a new debt settlement under the given circumstances. KERING Gucci-owner Kering plans to spin off German sports brand Puma to the French conglomerate’s shareholders to focus squarely on its luxury brands. Kering said on Thursday it planned to distribute 70 percent of Puma shares to its investors, leaving it with only a 16 percent stake, confirming an exclusive Reuters report . SAFRAN CFM International, a joint venture between Safran and General Electric , signed $9.1 billion of agreements and memoranda of understanding for new engine orders and long-term service contracts during the French president Emmanuel Macron’s visit to China, the French group announced on Thursday. SAINT-GOBAIN Saint-Gobain said on Thursday it extended its partnership with Alghanim Industries to Kuwait. As of January 11, 2018, they became joint-venture partners in Kimmco. SOCIETE GENERALE Societe Generale announced on Thursday it would provision about 456 million euros of additional charges in its accounts for the fourth quarter of 2017, particularly as a result of the tax reform in the United States. SUEZ Suez signed on Thursday an agreement with Se Environment to manage ‘Shangyang Project’. VIVENDI Acquisitive French media conglomerate Vivendi on Thursday trimmed its revenue and core earnings (EBITA) forecasts for 2017. It said EBITA would rise between 20 and 25 percent. It said the revision was down to a 40 million euro restructuring cost at its Canal Group unit.