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Axel Springer may withdraw SeLoger.com Exchange

Wednesday, March 23rd, 2011

The German publisher Axel Springer has gained control over 95% of the company of small ads on the Internet Seloger.com from the extension of its tender offer (OPA) announced the Authority Financial Markets (AMF), confirming a report from Reuters. "It (score) Stalinist," said one of those people.

The success of this operation means that SeLoger.com may soon bid farewell to the Exchange. Indeed, the French stock exchange law authorizes the issuer of a tender offer to delist its target if he can control at least 95% of its capital at the end of its range. The results of the extension of the tender offer to 38.05 euros per share is expected to be formally announced Wednesday by the Financial Markets Authority (AMF).

A company owning more than 95% of another listed company for the possibility to via IPO Squeeze (OPRO), to redeem all shares on the market. Investors then have the obligation to tender their shares to the offer as opposed to a takeover bid. This procedure is also called "squeeze out". Specifically, the delisting occurs most often in the form of a Public Buyout Offer (OPR) followed by a takeover of Squeeze (OPRO, which will compensate the shareholders of the company fast payday loan no faxing.

The delisting is not excluded

Axel Springer has not formally ruled out making a "squeeze-out on SeLoger.com, but also said he has nothing against the act of keeping one of its acquisitions listed, as is still the case for Aufeminin, another French star net bought by the German publisher.Out a group of stock and raise its stake to 100% allows the shareholder to make a tax consolidation and reassembling easier dividends to the parent.

For its part, SeLoger.com announced Monday that he expected a double digit growth of its key financial indicators in 2011 thanks to record levels of hearing and that he intended to double its dividend . After a fierce battle market, Axel Springer was able to convince management and major shareholders of SeLoger.com. After his first offer, the publisher of the German tabloid Bild controlled nearly 75% stake in the company.

(With agencies)

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The strategic plan of Crédit Agricole disappoints

Thursday, March 17th, 2011

"Our ambition is strong and serene, but without straws," says Jean-Paul Chifflet, CEO of Credit Agricole in an interview with Les Echos on Thursday. "I keep my promises." While the group presented on Thursday its strategic plan 2011-2014, who is head of the first French banking group (21 million customers) confirming the objectives announced last year, net banking income exceeding 25 billion euros and a net profit of group of six to seven billion euros in 2014 is double that recorded in 2010, "which was between 3 and 3.5 billion euros excluding one-off" according to Jean-Paul and Chifflet 1.26 billion if one includes them.

The banking group and does not sell the 20% stake in Spanish bank Bankinter and its two subsidiaries Cheuvreux and CLSA if talks with China's Citic Securitiesen for a reconciliation fail."We will probably changes in activities that are not considered core business," says Jean-Paul Chifflet.

"To become the reference in Europe in terms of proximity"

To meet its objectives, the group has a priority focus on organic growth in all sectors guaranteed fast personal loans. "We've done these past years of large transactions, recalled the general manager of Credit Agricole SA (Crédit Lyonnais, Indosuez, Finaref Cariparma, etc..). The priority now is to reap all the benefits and amplify the effect group. "

The banking group hopes to remain a leader in France and aims for it to grow by 2% to 3% per year in the Regional Banks and Crédit Lyonnais. And this, staying engaged in Europe. "This market remains a market of interest", says Jean-Paul Chifflet. In 2020, it still represents 32% of global GDP.We're very comfortable. " The officer cited the example of the areas of environmental economics, health, welfare, retirement, food or housing. "We want to become the reference in Europe in terms of proximity," he says in the Financial Times on Thursday. In this segment, Credit Agricole targets a revenue growth of between 10% and 12% per year on average.

At the Paris Bourse, the title loses 0.53% to 11.22 euros while the CAC 40 climbed 1.17% to 3739.79 points.

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Bonduelle will least in her pea salad

Saturday, March 12th, 2011

There will be less of peas in the salad vegetables Bonduelle. And more green beans. "We adjust the components of our products based on crops," says Daniel Vielfaure, Managing Director of Bonduelle. Of industrial crops (peas, corn, mushrooms …) suffered last year in fires and floods in Eastern Europe. "We expect pressure on the stocks of many vegetables," says Daniel Vielfaure. The group will also ease off on promotions, which represent 50% of volumes, and slow sales. At the risk of not being able to fulfill orders from distributors. "Planting now beginning. We will play on soils and varieties of vegetables to be a campaign earlier this year.We will then arrange the plants to fill up stocks, "says CEO Bonduelle.

Products Active Kids

The group hopes to finally turn the page of weather events that have seriously affected its profitability. In the first half (July to December 2010) of its 2010-2011 fiscal year, the rising cost of production due to bad weather and lower prices – due to high inventories of 2009 – contributed to a decline of 38.5 % of net income. This deterioration in profitability, particularly marked in Europe, is expected to accelerate in the second half. "We expect a rebound in 2011-2012 due to higher prices at the best loading of factories and the recovery of consumption in highly profitable areas such as North America and Central and Eastern Europe," states Christopher Bonduelle, CEO of the group, including 54% sales comes from cans credit report.

In France, Bonduelle has signed with signs of rate increases of 8.5%. On the front of labels (MDD), which represent 43% of group production, the rate increases could be even higher. In France, the Group strengthened its presence (19.2% market share) through the acquisition last year of France and the mushroom growth in its premium brand Cassegrain (+0.5 point). As for the Bonduelle brand, which has stagnated for a year, she should enjoy the success of canned steamed vegetables (2010) and good health found in the deli.

Leading brand in salads, Bonduelle has invested last month with his vegetables segment of trendy "box" previously monopolized by the pasta (Sodeb'O, Fleury Michon, Lustucru …).Popular with young professionals, this segment – which accounts for 60% of the growth of individual dishes – should see its volumes double this year.

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500 million euros more for employment

Saturday, February 12th, 2011

Nicolas Sarkozy announced Thursday that the government would generate an additional EUR 500 million in the budget for the job to fight against the long-term unemployment and promote early learning. "We will mobilize all our forces" for the job, said the head of state. "Growth has returned, the signs are encouraging, it'll work." Guest on the program "French Song" on TF1, the president said the new investment would be offset by savings in other departmental budgets.

Nicolas Sarkozy, who announced a year ago, during the same fiscal response to the French on TF1, "unemployment would fall in the months to come," was in a difficult position this Thursday evening when the situation is far from s be improved on the unemployment front in France.Although 2010 has been less dramatic than the 2009 balance sheet remains very negative.

Employment "at the heart of the priorities" of government

The hexagon returns to levels not seen since more than ten years: 31 December, there were between 2.72 and 4.05 million unemployed by their category. Be between 80,100 and 202,500 job seekers from a year earlier, however, increases 2-5 times lower than in registred in 2009.

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France 24: Pouzilhac exonerates Ockrent

Friday, January 21st, 2011

The board of directors of the Audiovisual outside France (AEF) held in an atmosphere with a knife to cut both the relationship between Alain de Pouzilhac and Christine Ockrent is tight for six months. However, Alain de Pouzilhac has agreed to a gesture saying "Christine has nothing to do in this case" and arguing that it considered itself reached in his honor by the charges of hacking which is the subject .

The CEO of external broadcasting also said that the crime involved only "the holding structure and not the television channel France 24", as has been claimed.

"An intolerable situation"

This subject was not upset to be addressed, but Michel Herbillon MP, representing the council has put his foot in it to evoke "an intolerable situation requiring an urgent solution for a company that carries the image of France to the abroad ".A position that would have caused the approval of qualified persons present, as well as staff representatives.

Another sticking point, the majority of the board expressed concern about the failure to sign the contract objectives and expected ways to fix the company's strategy until 2013. The state official promised a "speedy resolution".

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Inflates a speculative bubble on social networks

Wednesday, December 29th, 2010

It's a modern gold rush. Investors worldwide seek to take advantage of incredible success of social networks like Facebook and Twitter. The latter are not publicly traded, a gray market has been organized on platforms such as online or Sharespost SecondMarket to bring together investors and shareholders eager opportunists. At stake, a price surge in valuations two to three times higher than official estimates and a growing concern for start-ups that are so subject to these intense exchanges.

In effect, pending a hypothetical IPO of Facebook or Twitter, these platforms are the only way for outside investors to access capital rising stars of the Web, like social networks Facebook, LinkedIn and Twitter, or successful application vendors like RockYou and Zynga.These platforms also enable existing shareholders of a site to reinforce their presence. This was the case of Russian DST Global Fund, which has acquired 100 million shares on Facebook gray market to complement its investment of $ 200 million made at a fundraiser.

The shares are made available by former employees or investors of the first hour wishing to recover a little liquidity. SharesPost on a potential buyer and find "lots" of 1000 or 1500 shares offered Facebook between 25 and 38 dollars apiece, valuing the social network between U.S. 57 and $ 86 billion! The average valuation of Facebook rises, it at $ 42.3 billion. It thus remains even more "affordable" units to afford the microblogging site Twitter, whose shares are being priced between 20 and 24 dollars.The platform, valued at $ 3.7 billion during its last fundraising in December, saw its value increase to $ 5.4 billion.

Investigation of stock market watchdog

Transferred to high price, those shares are nevertheless lessee as the dazzling success of these start-up attracts bankers in Silicon Valley. In one year, Facebook has recruited more than 200 million members and over 550 million today. Its revenues could reach $ 2 billion in 2010, before the development of virtual goods market further boosts its business in 2011. Advantage of lower, Twitter announced that it has attracted 100 million new members and is, too, the focus on income.

Transactions on the gray market has boomed and parallel to that of Facebook, Twitter and other Zynga this year. SharesPost on, their number has tripled in one year.SecondMarket on nearly 400 million were traded in 2010, according to the Wall Street Journal, which is four times more than a year ago.

The intensity of trade has obviously aroused the curiosity of Constable American Stock Exchange, the Securities and Exchange Commission (SEC). The New York Times, the SEC had issued requests for information by actors in the parallel market. Its rules already provides that a private company should not have more than 500 shareholders and buyers and sellers have the same information on the valuation of a company. Fearing the leak of confidential information, Facebook has adopted rules of procedure in the spring to oversee the sale of its shares on the gray market.

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Debt: France remains the reference note

Friday, December 24th, 2010

France remains the largest AAA. This note, the best is always what the rating agency S & P (Standard & Poor's) – one of three major awards at the world-France.And what is triple A party to last at least a few months since S & P's note accompanying a stable outlook.

This assessment "reflects our views on health and strength of the French economy, the political environment, which we estimate to be flat and oriented towards prudent economic policies," says Marko Mrsnik, an analyst for S & P cited in the statement.

S & P increases the scenario in which the French government will continue its effort of fiscal consolidation and "could reduce the deficit to about 3% of gross domestic product in 2013."

France has promised to reduce its budget deficits (government, social security, local) of 7.7% of gross domestic product (GDP) this year, a record at 6% next year.Paris is a deficit of 4.6% of GDP in 2012 and 3%, the maximum allowed under the European treaties, in 2013.

Debt in a few dates and figures

The debt of France amounted to 1591.5 billion at the end of second quarter 2010 (latest figure available), or 82.9% of gross domestic product (GDP). It is expected to exceed 1,600 billion at end 2010 to 83.2% of GDP, or about 25,000 euros per capita.

It increased by almost 60% since 2003, during which she had crossed the symbolic threshold of 1,000 billion euros and the 50% of national wealth. The mark was surpassed 500 billion in 1993. Ultimately, the burden of debt to GDP has tripled in 30 years.

The Department of Budget expects that the French debt will represent 86 no fax cash advance.2% of GDP in 2011 before reaching 87.4% in 2012 and to decline slightly.Government debt is owned 70% by non-resident investors, a figure rising steadily in recent years.

A closed

In the "club" very closed countries rated triple-A by all three agencies (S & P, Fitch Ratings and Moody's) include, in addition to France: Germany, Netherlands, Finland, Austria and Luxembourg in the euro area; Norway, Sweden, Denmark, Switzerland and United Kingdom in the rest of Europe, USA, Canada and Singapore around the world.

S & P, "an issuer of bonds rated AAA has extremely strong capacity to meet its financial commitments." Moody's, the Supreme Aaa rating thus reflects a "strong economic, financial and institutional exceptional, allowing unfettered access to credit" and requires that "no conceivable impact is likely to affect repayment capacity."Fitch, meanwhile, explains that "the political will and capacity to mobilize resources to meet their financial obligations is a key element of sovereign credit reliability.

The rating agency Dagong Chinese, meanwhile, has awarded its own "Triple A" only seven countries: Norway, Denmark, Luxembourg, Switzerland, Singapore, Australia and New Zealand. It notes the AA-France, the United States and Germany AA AA +.

With agencies

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Greek growth: IMF worst

Saturday, December 18th, 2010

The Greek economy is doing less well than hoped the International Monetary Fund (IMF). The organization led by Dominique Strauss-Kahn said Friday night that revalued downward its growth forecasts for Greece in 2011. While she has just released the third tranche of the loan in May of a $ 2.5 billion, it now expects a decline of 3% of GDP next year, against 2.5% previously. And in 2010, GDP should have declined by 4.2% against 4% so far, said the international organization. Submitted by the IMF and the European Union to a drastic austerity plan, the Greek business should not move upward "before the end of 2011."

Some factors may even help to slow further this dynamic.The IMF is particularly concerned that a stronger contraction of domestic demand, or a contagion from other countries in the periphery of the eurozone, are not counter the efforts implemented by the government to redress its finances public. To the credit of Greece, the international organization, however, cites a declining inflation, and a COMPETITIVENESS being improved.

Elongation of the Greek debt

Weak growth is likely to undermine the country's repayment capacity. The IMF and the European Union had in fact committed last May to lend 110 billion euros to Greece, then subjected to astronomical levels if it wanted to borrow on the markets. This amount was to be repaid from 2014 to 2015. But as early as last October, Dominique Strauss-Kahn tried to prepare markets for a possible rescheduling of debt Greek.And now trying to convince the European Union, which funds 80 billion on 110 billion, to consent to such extension. On Friday, a European minister questioned even in the margins of the EU summit on the mediterranean country's ability to repay its debt someday.

Despite these difficulties, the IMF on Friday expressed satisfaction with the measures already taken by the Greek government to reduce its deficit to 7.4% of GDP in 2011. "The program supported by the Fund continues to have good results, and we must congratulate the Greek authorities for their determined implementation of macroeconomic policies and structural reforms difficult and challenging," said assistant general manager of the Fund, Murilo Portugal.However, the IMF considers that "given the weakness of public sector and the appreciation of investors still negative, comprehensive reforms undertaken at the right time and are still essential" to implement.

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Sanofi-Aventis does not give face to Genzyme

Friday, October 29th, 2010

Chris Viehbacher, the CEO of Sanofi-Aventis, is unwavering. Just last week, Henri Termeer, CEO of U.S. biotech Genzyme, tried to demonstrate that its new forecast results justify a valuation of up to $ 89 per share or $ 22.7 billion. An amount far below the 69 dollars (18.5 billion) offered by Sanofi in its hostile takeover bid.

"The financial goals of Genzyme ignore market realities and the current situation of the company, said Thursday Chris Viehbacher. Some of them confirm our assumptions and some others seem quite unrealistic. On the merits, we have heard nothing that would lead us to change our offer of 69 dollars per share. "

Investors either, it seems.Despite allegations of Henri Termeer, who said last week it was in talks with potential buyers, the stock price Genzyme, 72.20 dollars Thursday in the afternoon, hardly changed since.

Sanofi-Aventis will continue to be "patient" and "disciplined," said Chris Viehbacher, reiterating its wish to discuss with leaders from Genzyme. Sanofi can take the time, even longer than one or two months the expiry date of its offer, set for December 10, feel more familiar with the matter.

In addition, a third of the shares is held by Genzyme investors positioned themselves after the early rumors of interest from Sanofi quick payday loans for Genzyme. They are a quick profit, not a long period of uncertainty on this issue, noted near the laboratory.On the French side, so we continue to believe that the operation can be fastened to less than $ 75 per share.

Acquisition in China

Sanofi announced Thursday a quarterly profit of 2.5 billion euros. Increased sales in emerging markets (+13%) allows it to compensate for "loss of over 500 million euros in turnover due to generic competition." The launch in July of a generic Lovenox in the United States are down by 50% because sales of this flagship drug from Sanofi. Across the Atlantic too, the health reform is expected to cost $ 100 million to Sanofi. The laboratory reviews yet on the rise between 0% and 2%, its forecast growth in earnings per share from continuing because he enjoys "a strict cost control, bringing his savings on a year to 1.2 billion euros.Sanofi announced Thursday the purchase for $ 520 million, the group's consumer healthcare BMP Sunstone Chinese.

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The government calls for a boycott of PSA and Renault Molex

Thursday, October 28th, 2010

The Government will he fold Molex? The Industry Minister Christian Estrosi done up a notch on Wednesday the pressure on the American automotive supplier, in order that he pay the full social commitment after the October 2009 closure of its plant Villemur-sur-Tarn, Haute-Garonne. Implementing brandished the threat last week, Christian Estrosi asked automakers PSA and Renault – two important clients of Molex – to cease all trade with the U.S. company.

Since 188 of the 283 employees of the site Villemur-sur-Tarn began proceedings against Molex Industrial Tribunals, the OEM has indeed implemented countermeasures.In particular, he stopped the payment of compensation for the reclassification of 19 employees laid off a little later than others, and the financing of the redeployment unit accompanying redundancies in their job search.The shortfall for employees is evaluated by a CGT, Denis Parise, more than four million.

Molex releases record profits

"How can we despise all the commitments that were made, do not follow a backup plan in employment that was negotiated with the government, with employees and employee representatives Molex?" Was upset Estrosi on Wednesday, leaving the cabinet.

"The reaction Christan Estrosi leaving the cabinet:

More info on video itélé.fr

An attitude that seems all the more shocking that Molex has released financial results on Wednesday overwhelmingly positive. "The income and earnings per share reached a record high in September," said CEO Martin Slark in a statement.These performances will include the U.S. group to pay dividends up over 14% to its shareholders.

The economic threat, begins after the legal

Payments of compensation to employees injured Villemur-sur-Tarn will nevertheless insured. Last Thursday, Estrosi had in fact already committed to pay the sums due from Molex. "The reclassification will be paid leave in late October or early November," supported by the Association of Wage guarantees, "he promised. But the French government does not allow Molex, whose behavior "does not conform to French law," get away so easily.

Before wielding the threat posed by the economic potential of trade off between Molex, PSA and Renault, Christian Estrosi had already announced that the state would support an action for damages against Molex in court.A procedure in which the stewards but deplore the slowness, inefficiency and fear.

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