DANONE PUTS ASSETS UP FOR SALE

French food group Danone said on Monday it was launching a review of its assets and was reshaping its management to cope better with challenges caused by the coronavirus crisis. The world’s largest yoghurt maker, which is putting about 500 million euros (452.81 million pounds) worth of assets up for sale, said it aimed to “rapidly reconnect” with its goal to deliver mid-term like-for-like sales growth of 3% to 5%. The group said it was immediately looking at strategic options for its Argentina business and North American Vega plant-based brand, and would at a later stage conduct a more in depth review of its portfolio to prune under-performing assets. SOURCE: Reuters

GREENLAND TAKEN OVER BY EIGHT FIFTY GROUP

Eight Fifty Food Group, parent company of Young’s Seafood Ltd. and Karro Food Group, has purchased Hamburg, Germany-headquartered AliSa International GmbH, which trades as Greenland Seafood. The multi-protein food group, which is controlled by CapVest Partners LLP, announced that it is acquiring Greenland Seafood for an undisclosed amount on Friday, 16 October. Regarded as one of mainland Europe’s largest producers of frozen seafood products, Greenland Seafood employs approximately 600 people across its two processing sites in France and Germany. SOURCE: seafoodsource.com

NETJETS GOES GREENER

NetJets has become the latest big business aviation operator to declare a package of environmental commitments that could deliver a major boost for sustainable aviation fuel (SAF) in the sector. As well as a commitment to use SAF, the fractional ownership giant, which has a fleet of more than 750 aircraft, says its Global Sustainability Programme will include carbon offset schemes. SOURCE: flightglobal.com

BLOOMBERG UPBEAT ABOUT THIRD-QUARTER RESULTS

European earnings are emerging from a pandemic-induced trough, with Jefferies Financial Group Inc. strategist Sean Darby predicting “the mother of all profit turnarounds” when the bulk of companies begins rolling out results this week. Whether the announcements can fuel another leg in the stock rally is another matter. Analysts have been jacking up their estimates, anticipating that corporate bottom lines have benefited from “unprecedented” inventory restocking by their clients, a recovery in global trade, a bottoming-out in wholesale prices and low energy costs, Darby wrote in a note. Earnings are likely to be much higher than in the previous quarter, he said. SOURCE: www.bloombergquint.com