BP sells majority stake to lubricants producer Castrol for $6 billion
LONDON – The oil company BP is selling the majority of the lubricants producer Castrol to the US investor Stonepeak Partners for $6 billion. The purchase price for the 65 percent stake includes some advance payments for future dividends on the stake remaining with BP, the British announced on Wednesday. The selling price achieved is below previous expectations, and the share price ended trading slightly lower after a solid start.
Sanofi wants to buy US vaccine manufacturer Dynavax for $2.2 billion
PARIS – The pharmaceutical company Sanofi wants to buy the US vaccine manufacturer Dynavax (Dynavax Technologies) for a good two billion dollars. The French company announced on Wednesday that the bid was $15.50 per share in cash. The takeover was unanimously approved by the American board of directors. The purchase is to be paid for from existing cash reserves.
Baywa sells Dutch subsidiary Cefetra
MUNICH – The ailing BayWa is selling its Dutch subsidiary Cefetra. This could reduce bank liabilities by over 600 million euros, said the Munich-based conglomerate Baywa, which is important for farmers and food supply. The completion of the transaction is therefore still subject to various conditions, including the approval of the transaction by the Italian authorities.
Italy slows down meta on WhatsApp chatbots
ROME – The Italian antitrust authority is taking action against Facebook parent company Meta (Meta Platforms (ex Facebook)) for alleged abuse of a dominant market position. According to a statement, the competition authority AGCM imposed interim measures and asked Meta to suspend contractual conditions that exclude other AI chatbots on the WhatsApp messenger service.
Fines in the millions for Knaus Tabbert
JANDELSBRUNN/STUTTGART – The caravan manufacturer Knaus Tabbert has to pay a fine of around 6.4 million euros. This was imposed by the Stuttgart public prosecutor’s office in connection with investigations into incorrect weight information on camping vehicles, as the company announced in a mandatory stock exchange filing on Tuesday. Knaus Tabbert therefore accepts the fine, which is therefore legally binding.
Tesla factory manager rejects collective agreement – IG Metall advertises
GRÜNHEIDE – The US electric car manufacturer Tesla in Grünheide near Berlin categorically rejects the introduction of a collective agreement. “This year there was a wage increase of two percent in the relevant collective agreement,” said plant manager André Thierig to the German Press Agency. “Because we are in a different economic situation than the entire industry, we were able to increase wages by twice as much – by four percent. Since the start of production, there has been a wage increase of more than 25 percent in less than four years.”
Bahn wants to put more than 23 billion euros into the network in 2026
BERLIN – Deutsche Bahn wants to invest more than 23 billion euros in the modernization of the rail network next year, more than ever before. “More than half of the money goes into the existing network,” said the head of the railway company DB InfraGo, which is responsible for the infrastructure, Philipp Nagl, to the German Press Agency. “The other funds will go into the Digitalizationin new construction and expansion, in small and medium-sized measures, the train stations and a number of smaller topics.”
Federal Network Agency imposes penalty on Deutsche Bahn
BERLIN – The President of the Federal Network Agency, Klaus Müller, accuses Deutsche Bahn of “miserable construction site management”. Müller told the “Rheinische Post” that he understood that modernizing the rail network was a huge challenge, an open heart operation. “But passenger and freight traffic must continue.”
There will be more fireworks in the shops than ever before
EITORF/BREMERHAVEN – Germany’s fireworks companies are eyeing the next sales record on New Year’s Eve. “Our volume of goods in retail is around ten percent larger than a year ago,” says Weco sales manager Oliver Gerstmeier in Eitorf near Bonn. A year ago it had even increased by 25 percent. Competitor Comet reports moderate growth this year. Retail demand has increased, says Comet’s marketing manager, Jens Thomas.
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ROUNDUP: You read a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.
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