ROUNDUP: Bäte to remain Allianz CEO until 2028 - Chief Financial Officer to go to Generali

MUNICH - As recently expected, Allianz continues to rely on continuity at the top of the Group, but is losing its Chief Financial Officer Giulio Terzariol to Italian rival Generali. The 51-year-old Italian will be relieved of his duties as of December 31 in order to pursue his career opportunities outside Allianz, Allianz announced in Munich on Monday. The news did not cause any sharp swings on the stock market. Allianz shares rose slightly, in line with the market. Generali also announced that Terzariol will head a newly formed unit that will bundle all insurance businesses, starting in January.

ROUNDUP/'HB': BASF boss wants to sell parts of the group worth billions of euros

DÜSSELDORF - Chemical giant BASF is facing a major divestment program, according to a press report, with the change at the top and in view of poorly performing businesses. Seven months before his departure, the still acting CEO Martin Brudermüller is pushing ahead with the sale of parts of the group with a volume of up to ten billion euros, reported the "Handelsblatt" (Monday), citing company and financial circles. Four major and smaller sales projects are on the agenda.

IPO/Billion Leap: Birkenstock fixes price and number of shares for Borsengang

NEW YORK - The traditional shoe manufacturer Birkenstock has set the conditions for its planned IPO in the United States. Up to 33.26 million shares are to be offered at a price of 44 to 49 U.S. dollars per common share, according to a statement issued by the U.S. Securities and Exchange Commission (SEC) on Monday. This could put more than $1.6 billion (Eur1.5 billion) into the company's coffers as it steps onto the trading floor. The shares are to be listed on the New York Stock Exchange (NYSE).

Financial regulator appoints special representative for Deutsche Bank

FRANKFURT - The financial supervisory authority Bafin has appointed a special representative for the parent company Deutsche Bank because of the problems at Postbank. The officer is to oversee that Deutsche Bank "swiftly and completely eliminates" the restrictions on customer service at Postbank and at mortgage lender DSL Bank, the regulator said Monday. "BaFin has taken this measure to protect the collective interests of consumers."

'FT'/Cry for help from Brussels: telecoms industry sees tech groups to take action

LONDON - European telecom companies want to force large tech groups to pay more for network use, according to a press report. "A fair and reasonable contribution from the major traffic generators to the cost of network infrastructure should form the basis of a new approach," the Financial Times (FT) quoted Monday from a letter that the heads of 20 European telecoms companies are said to have sent to Brussels. Among the signatories are German telecom chief Tim Hoettges, as well as the heads of Vodafone, Telia and BT Group.

French supplier Forvia expects more synergies after Hella takeover

LIPPSTADT - Following the acquisition of headlight specialist Hella, French automotive supplier Forvia expects more savings than originally targeted. "We had announced a target of 300 million euros in cost synergies by the end of 2025. We expect to exceed this target," CEO Patrick Koller told industry publication Automobilwoche in an interview (Monday). Previously, the company had assumed savings of 250 million euros by 2025 when it was acquired last year. According to his assessment, the Faurecia and Hella teams are working "very well together." The two companies operate jointly under the Forvia umbrella brand.

Hella and Mahle sell BHTC joint venture to Taiwan

LIPPSTADT - Headlamp specialist Hella and automotive supplier Mahle are selling their joint venture Behr-Hella Thermocontrol (BHTC) to Taiwan. Hella and Mahle are selling their respective 50 percent stakes, as the companies announced on Monday. The buyer is the listed Auo Corporation. Auo, based in Taiwan, specializes in products and solutions for display panels. The joint venture is valued at 600 million euros in the deal. Hella expects book profits of around 100 million euros from the sale of the company, it added.

Deutsche Borse to delist Simcorp after takeover

ESCHBORN/KOPENHAGEN - As announced, the financial group Deutsche Borse wants to force the remaining minority shareholders out of the company Simcorp, which it has taken over. Deutsche Borse makes use of the right to acquire all Simcorp shares of the remaining shareholders, it was said on Monday by the Eschbornern. For it 735 Danish crowns (98.54 euro) are to flow per share certificate in cash. The company set Simcorp shareholders a deadline of Oct. 30. Simcorp had also applied to Nasdaq Copenhagen for the shares to be delisted and delisted. The last trading day is also to be Oct. 30.

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Other news

-Press: VW to phase out Seat Tarraco SUV.

-Zurich airport records slightly fewer aircraft movements in September

-Expensive mobile phone auction: Authority considers long-term waiver

-UBS settles Credit Suisse's legal dispute with the Republic of Mozambique

-Novartis achieves research goals in kidney disease with investigational candidate Iptacopan

-O2 switches to 5G-only mobile - Only a few phones compatible

-Apple: Software bugs can cause iPhone 15 Pro to overheat

-British minister: billion-dollar orders for submarine development

-Legendary BMW boss von Kuenheim turns 95

-Solar industry needs hundreds of thousands of skilled workers

-ROUNDUP: Thousands of doctors' offices in Germany remain closed in protest

-ROUNDUP: Several hundred jobs to be cut at Playmobil parent company

-Agreement at conference: Global rules for toxic substances

-Federal government: Honey imports remain important

-TV ratings: 'Babylon Berlin' loses viewers - Inga Lindstrom wins

-Elbe deepening only little used according to environmental associations

-New launch of European Vega C rocket delayed

-Railway closures in the Ruhr area - so far no traffic chaos on the bridge day

-Hapag-Lloyd christens 'Berlin Express' - First Lady is godmother

-Company plans trains between Hanover and Ukrainian border

-ROUNDUP: Nobel Prize in medicine for basic mRNA vaccines against covid-19

-Garmin insurer must refund lottery money after cyber-extortion°

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ROUNDUP: You are reading a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.

/jha