TheChek News Flow

Douglas Holding in Talks to Take Over Nocibé

BERLIN — Douglas Holding AG, the German parent company of retail chains including Douglas Perfumeries, is in exclusive negotiations to take over French perfumery chain Nocibé.

The acquisition would create the largest perfumery chain in France, consisting of 625 stores and around 4,000 employees, and together Douglas and Nocibé would achieve a number two position in terms of turnover, the company said.

Rumors of the negotiations between AI Perfume France SAS, a company controlled by Douglas Holding shareholders, and financial investor Charterhouse Capital Partners surfaced last week, but the parties involved had previously declined to comment.

The proposal must first clear standard approvals, including consultations with workers' councils and settling anti-trust concerns.

Transactions will be conducted as a joint effort by members of Douglas founding family, Kreke, and Advent International. The two took over and then delisted Douglas Holding from the stock exchange earlier this year.

"This transaction would represent a major milestone in the successful implementation of our joint growth strategy," said Douglas Holding's Henning Kreke in a statement.

"As part of our corporate strategy we will continue to successfully expand the position of our perfumeries in Europe, in order to become one of the leading and most competent operators in each country in which we are active in," he added.

Manpower beats by $0.16, beats on revs; guides Q4 EPS above consensus Reports Q3 (Sep) earnings of $1.26 per share, $0.16 better than the Capital IQ Consensus Estimate of $1.10; revenues rose 0.3% year/year to $5.19 bln vs the $5.1 bln consensus. • Co issues upside guidance for Q4, sees EPS of $1.18-1.26 vs. $1.17 Capital IQ Consensus Estimate. • "We continue to experience positive momentum in all of the established strategic focus areas. Our strong results for the third quarter were driven by more positive revenue trends and operational leverage achieved through our re-calibration efforts. Our European operations' revenue experienced slow but steadily improving trends throughout the quarter. Our team across the world remains positive and all of our brands are well positioned as we enter the fourth quarter."

Banque PSA attracts European heavyweights

Banque PSA may be a target for Santander as the Spanish bank mulls taking a 50% stake in the French finance provider, a newswire report said on 18 October.

The possible sale of part of Banque PSA, worth an estimated EUR 3bn, by PSA Peugeot Citroen is part of the car maker’s ‘plan B’, being drawn up in case plans to sell a 20-30% stake to Dongfeng of China fall through, the Reuters report said.

Besides Santander, other major European financial players are looking at acquiring part of Banque PSA including UniCredit and Commerzbank (the German business), Lloyds (the UK business) and Credit Agricole (the French unit), the report said, citing people familiar with the situation.

Source Newswire Round-up

Halliburton Co Reports Q3 $0.83(adj) v $0.83e, R$7.47B v $7.51Be - North America Rev $2.92B v $2.97B y/y - Latin America Rev $412M v $373M y/y - Europe/Africa/CIS Rev $636M v $523M y/y - Middle East/Asia Rev $528M v $419M y/y

- Comments: During the quarter, we saw improvement in activity levels across the United States land market as drilling and completion efficiencies continue to drive an improved well count. The United States land rig count, however, remains sluggish. Additionally, oversupply of service capacity in North America continues to put pressure on pricing in a number of areas. - However, we expect to see margin improvement during 2014 as Gulf of Mexico activity expands, we deploy our Battle Red and Frac of the Future initiatives, and we continue to see revenue gains as unconventional service intensity improves. - Globally, we will continue to expand our portfolio in deepwater, mature fields, and unconventionals. We believe the underlying fundamentals for our industry are strong, and I am optimistic about Halliburtons relative performance as we move into 2014, concluded Lesar

Electricite de France Confirms has won the contract (45-50% stake) to build nuclear power plant Hinkley in the UK; final investment decision is conditional on remaining key steps - Has reached agreement with UK govt on key commercial terms of investment. - UK Govt: British companines may get as much as 57% of the work on the project.

Millicom Intl Cellular S.A. Reports Q3 EBITDA $459M v $410Me, Rev $1.29B v $1.28Be- Guides FY13 online EBITDA loss $70-90M

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PostNL Reached Agreement on New Pension Plan From Jan. 1 ’14 2013-10-21 06:10:30.126 GMT

By Corina Ruhe Oct. 21 (Bloomberg) -- PostNL’s pension fund and trade unions reached agreement on execution and funding arrangements, PostNL says in statement. * Unlimited top-up payment obligation limited in 2 phases Statement

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

To contact the reporter on this story: Corina Ruhe in Amsterdam at +31-20-589-8526 or cruhe@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at +44-20-7673-2841 or cstirling1@bloomberg.net

US Market closed higher with Nasdaq leading the move on GOOG Perf.(+13,8%)...Financials was the only sector with a strong perf...GE was also up3,5% after good Earnings...VIX @13,04...Brazil -0,5%...Sept Home Saless to be reported today...MCD & HAL big names to report before the open...Asia continue to trade higher following US, hopes of more US stimulus is helping the sentiment...Nikkei (+0,9%) continue to be supported by weak yen... US Data this week will be carefully monitored...

Eur$ : 1,3680 European Futures Indicated : 25bps higher

Keep an eye on :

- AF FP : Air France May Accept Alitalia Dilution, Les Echos Says - AGL IM : New Formats to Drive Margin Recovery at Autogrill, JPMorgan Says - AKZA NA : Akzo Nobel 3Q Net Income, Sales and Ebitda Beat Estimates,Economic Environment Remains Challenging - ALU FP : Nokia Record Cash Makes Alcatel Wireless Unit a Target: Real M&A - BC IM : Brunello Cucinelli PT Raised to EU23.7 vs EU18.3 at Goldman - BP/ LN : BP to Reach Final Accord for Oman Tight-Gas Project in 2013 - EAD FP : Airbus Targets 25% Market Share in Japan in 2020, Bregier Says - EAD FP : Buy EADS, Rolls, Safran, Thales on Earnings, Value - EDF FP : Confirmes nuclear reactor agreement with UK Gov. - ERA FP : Eramet Says 3Q Revenue Falls 5% on Lower Nickel Price - GFS LN : G4S cash-solutions unit eyed by Charterhouse for potential GBP 1bn bid - HENEX BB : Union Financiere Boel Plans EU63.50/Shr Cash Offer for Henex (26,5% premium vs fri. Close) - ISS DC : ISS Wins Service Order From Vattenfall, Dagens Industri Reports - LUX IM : Luxottica Multiples Not Supported by Returns on Capital: Goldman - MB IM : UniCredit CEO said approx 8.7% stake in MedioBanca is strategic - MOBB BB : Mobistar 3Q Ebitda of EU89.1m Beats Ests. on Lower Costs - PHIA NA : Philips 3Q Adj. Ebita Beats Estimates, Says Sales to Be Affected,3Q Health-Care Orders Drop, Lifestyle Sales Rise - SAP GY : SAP Software Revenue Drops as License Sales in Americas Decline - SN/ LN ; Smith & Nephew chairman John Buchanan to step down - TOD IM : Tod's Has Limited Opportunities for Margin Expansion: Goldman - UG FP : Most Peugeot Unions Ready to Sign Accord This Week, Echos Says - VIV FP : Vivendi Plan to Reduce Debt Is Credit Positive, Moody’s Says - Z01 GY : Zooplus 3Q Total Rev. Rises 26% to Record; Raises 2013 Forecast

Up

*ANGLOGOLD ASHANTI RAISED TO NEUTRAL VS SELL AT UBS *AUTOGRILL RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN *DEBENHAMS RAISED TO OVERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY *TELIASONERA RAISED TO NEUTRAL VS SELL AT CITI

Down

*ALIOR BANK CUT TO EQUALWEIGHT VS OVERWEIGHT AT MORGAN STANLEY *ALMA MEDIA CUT TO BUY VS STRONG BUY AT NORDEA *EDP CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN *HUGO BOSS CUT TO SELL VS NEUTRAL AT GOLDMAN *IBERDROLA CUT TO NEUTRAL VS OUTPERFORM AT CREDIT SUISSE *LUXOTTICA CUT TO SELL VS NEUTRAL AT GOLDMAN *LVMH CUT FROM CONVICTION BUY AT GOLDMAN, STILL A BUY *NOVATEK CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN *OPAP CUT TO UNDERWEIGHT VS EQUALWEIGHT AT MORGAN STANLEY *PHOSAGRO CUT TO NEUTRAL VS BUY AT BOFAML *TNT EXPRESS CUT TO NEUTRAL VS BUY AT UBS *TOD’S CUT TO SELL VS NEUTRAL AT GOLDMAN *TURKCELL CUT TO NEUTRAL VS BUY AT UBS

PT changes

*Brunello Cucinelli PT Raised to EU23.7 vs EU18.3 at Goldman *FERRAGAMO PT RAISED TO EU34.3 VS EU33.8 AT GOLDMAN; KEPT AT BUY *GEOX PT RAISED TO EU1.9 VS EU1.67 AT GOLDMAN; KEPT AT SELL *LAMPRELL PT RAISED TO 180P VS 150P AT RBC

Initiation

*ALDAR RATED NEW NEUTRAL AT GOLDMAN *ANADOLU HAYAT EMEKLILIK RATED NEW OVERWEIGHT AT JPMORGAN *DNO INTERNATIONAL RATED NEW NEUTRAL AT JPMORGAN; PT NOK17.50

Country sector Stock Call

*COCA-COLA HELLENIC ADDED TO UBS’S LEAST PREFERRED LIST *KPN ADED TO UBS’S MOST PREFERRED LIST * Telecom Italia Value Name in European Telecom, Macquarie Says

98) Options BFW Oct 21 2013 07:41:05 Buy EADS, Rolls, Safran, Thales on Earnings, Value, Citi Says

Credit

*JPMORGAN UPGRADES HEIDELBERGCEMENT TO OW FROM NEUTRAL *JPMORGAN CUTS ITALCEMENTI TO NEUTRAL FROM OVERWEIGHT *JPMORGAN CUTS CRH TO UNDERWEIGHT FROM NEUTRAL *JPMORGAN DOWNGRADES LAFARGE TO NEUTRAL FROM OVERWEIGHT *JPMORGAN DOWNGRADES ST. GOBAIN TO UW FROM NEUTRAL

Fed's Williams (dove, FOMC non-voter): Bond buying and forward guidance will eventually be retired and Fed funds rate will once again be the tool of use when the ecoomy recovers - Unconvential policies have been effective - Not expecting policy of forward guidance to cite any thresholds once rates are raised and the economy moves toward a more normalized situation