European Press Roundup: Blackhall Studios Expands to U.K., Greek Gas Network Attracts Suitors
In Europe today, Puma beat its earnings guidance for 2019 but
warned that 1Q will be impacted by the coronavirus, while drug
maker Sanofi said it will work on a vaccine against the new virus.
Read about the above topics on Dow Jones Newswires or WSJ.com.
In Other Media...
U.S. film company Blackhall Studios plans to invest GBP150
million in a new studio in Berkshire, south-east England, and
create up to 3,000 new jobs. Atlanta-based Blackhall said clients
like Disney, Universal and Sony had asked the company to expand
into the U.K. -Sky News
Italy's gas infrastructure group Snam is considering a bid along
with Belgium's Fluxys and Spain's Enagas to acquire Greece's
state-controlled gas distribution network Depa Infrastracture. Gas
distributor Italgas is also interested. -Il Sole 24 Ore
A total of 140 companies have moved to the Netherlands from the
U.K. since the Brexit referendum in 2016, including 78 last year,
according to the Netherlands Foreign Investment Agency. The agency
is in talks with a further 425 businesses that are waiting for
clarity on the U.K.'s future relationship with the EU before making
a decision. -The Times of London
French auto supplier Plastic Omnium said it achieved all its
financial objectives despite a 16% fall in its 2019 operating
profit to EUR511 million amid a deteriorating outlook for the
global automotive industry. The company said it forecasts an
increase in operating profit for 2020 thanks to "an enhanced cost
reduction program" targeting at least EUR200 million in free cash
flow. -Le Figaro
French renewable energy company Neoen has reported growing
revenue in 2019, for its first full year on the stock exchange.
Results were mainly driven by its solar business. -Les Echos
Politicians in Germany have reprimanded environmental group
Gruene Liga for its resistance against Tesla's planned factory in
Brandenburg after it complained about forest clearing for the site.
"Turning a pinewood plantation into a battlefield is absurd. That
has nothing to do with nature conservation," Oliver Krischer said,
member of the Green Party. Deforestation at the site remains halted
while a court deals with the complaints. -Tagesspiegel
Osram Licht is stepping up its cost-savings, planning to reduce
costs by EUR300 million by 2022. The lighting technology company
previously said it was targeting cost-savings of EUR220 million.
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(END) Dow Jones Newswires
February 19, 2020 07:19 ET (12:19 GMT)
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