European Stocks to Watch: Belvedere
Shares in Belvedere jumped 7% Friday as the French wine and spirits group said it will sell its Pulco and Sirop Sport businesses to Orangina Group for 178 million euros ($242.9 million).
Belvedere will use the cash to reduce debt and pay out a one-time dividend of 10 euros per share.
The transaction will involve the sale of assets in Poland and Florida, the company said in a statement.
Intercell (Up 3.3%) Traders have been speculating abouta possible takeover of the Austrian vaccine company by Swiss drug maker Novartis, according to Thomson Financial.
EasyJet (Down 2.7%) The British low-cost carrier reported weak revenue results for June, despite posting a 15% increase in traffic growth.
Carlsberg (Down 1.8%) The Danish brewer is interested in buying parts of Swedish state-owned spirits group Vin & Sprit, which the Swedish government plans to sell as part of the country's biggest ever privatization, Swedish newspaper Dagens Industri reported Thursday.