4 September 2015
Brought to you by Investec Switzerland.
Lindt & Spruengli CEO hungry for takeovers
Lindt & Spruengli AG is seeking more acquisitions after buying Russell Stover Candies Inc., and the Swiss maker of premium chocolates is taking advantage of plummeting currencies to expand in Brazil and Russia. Future deals will be smaller than the 1.5 billion Swiss-franc ($1.6 billion) Russell Stover acquisition last year, Chief Executive Officer Ernst Tanner said in an interview. By Corinne Gretler (Bloomberg). Read more.
Syngenta says it will find a new home for seed business
Syngenta AG, which fended off a $47 billion takeover approach from Monsanto Co., moved to shore up investor support with a plan to buy back more than $2 billion of shares and sell a vegetable-seeds business. The Swiss maker of pesticides and other agrochemicals will return “significant levels of capital” to shareholders through the initial buyback program that will start in the coming weeks, it said in a statement on Thursday. The shares gained as much as 3.5 percent. By Sheenagh Matthews, Andrew Marc Noel and Alice Baghdjian (Bloomberg). Read more.