stock exchange

General Motors Co will pay 320 million euros ($423 million) for its 7 percent stake in French automaker Peugeot as part of an alliance designed to save the companies at least $2 billion.
Separately, PSA Peugeot set out the terms of its 1 billion euro capital increase to fund the deal, offering a subscription price of 8.27 euros per share from March 8-21.

EDF
Italian market regulator Consob dismissed a press report that it planned to ask France's EDF to raise the price of a bid to buy out minority shareholders in Italian power producer Edison, a source close to Consob said.

LEGRAND
Private equity group KKR is to sell up to 12.7 million shares in the French electrical equipment group via an accelerated offering, bookrunner Goldman Sachs said.

VALLOUREC
The company said it has reappointed its current board members, Philippe Crouzet as chairman, Jean-Pierre Michel as Chief Operating Officer and Olivier Mallet as Chief Financial Officer for four years.

SANOFI, L'OREAL
The French drugmaker said Laurent Attal, L'Oreal's Vice-President would replace Lindsay Owen-Jones, former CEO of the cosmetics group, who is not seeking reappointment at Sanofi's board when his term ends on May 4.

PHILIPS
Philips Electronics said on Tuesday it has placed a total of $1.5 billion of new senior notes and that it intends to use the proceeds to redeem an existing bond issue and for general corporate purposes.

NATIXIS
Coface, the credit insurance unit of French investment bank Natixis, is still considering an IPO after having completed a refocusing of its core business, Jean-Marc Pillu, Chief Executive said in an interview with Les Echos.

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