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Swiss stocks - Factors to watch on March 31

Published 31/03/2017, 04:22 pm
© Reuters.  Swiss stocks - Factors to watch on March 31
CSGN
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ATLN
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ZURN
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JNJ
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SIKA
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HELN
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CVO
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VACN
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ZURICH, March 31 (Reuters) - The following are some of the main factors expected to affect Swiss stocks on Friday:

ACTELION ATLN.S

Johnson & Johnson (NYSE:JNJ) JNJ.N declared its $30 billion tender offer for Swiss biotechnology company Actelion successful on Friday, reporting it controlled 77.2 percent of the voting rights after the main offer period. The price of the offer, which J&J announced on Jan. 26, was $280 per share for Actelion. It said it expected the transaction to close in the second quarter. more click on ATLN.S

COMPANY STATEMENTS CPR-CH

* Zurich Insurance ZURN.S is redeeming $1 billion worth of trust preferred securities early. The securities, issued in 2007 by ZFS Finance (USA) Trust V are expected to be redeemed on May 9, 2017 at par plus accrued interest, Zurich said. The net amount outstanding is $501 million. ZURN.S

An Australian court has approved an arrangement under which Zurich Insurance will acquire all shares in travel insurer Cover-More CVO.AX . Cover-More expects to lodge the approval with Australia's Securities and Investment Commission April 3. ZURN.S

* Helvetia HELN.S has placed a 500 million euros ($536.25 million) subordinated hybrid-bond on the EUR capital market. The bond bears a fixed coupon of 3.375 percent until its first optional call date in September 2027. HELN.S

* Credit Suisse CSGN.S said it plans to suspend further issuance of its exchange-traded notes. The plan does not affect investors' ability to offer the bank ETNs for repurchase, Credit Suisse said. CSGN.S

* VAT Group VACN.S expects to grow sales at least 20 percent in 2017 in constant currency after net income jumped to 67 million francs in 2016. The group nominated Martin Komischke to succeed Horst Heidsieck as chairman of the board. VACN.S

* Sika SIK.S appointed six managers to new positions within the firm, which its CEO said would help the group achieve its growth strategy and 2020 targets. SIK.S

ECONOMY M-CH

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