US tobacco group Philip Morris International Inc (NYSE:PM), or PMI, said it will take full control of its Mexican unit through the purchase of the remaining 20% in Philip Morris Mexico SA de CV (PMM) from Grupo Carso SAB de CV (OTCMKTS:GPOVY).

PMI, who worked in partnership with Grupo Carso in Mexico for more than 30 years, said the final price, estimated at some USD700m (EUR542.3m), will be calculated based on a pre-agreed formula and will be subject to adjustments based on the unit’s future performance for two fiscal years after the closing of the transaction.

The maker of top cigarette brand Marlboro expects to complete the deal by 30 September 2013, anticipating it to contribute to its EPS from the fourth quarter of this year, it said.

Philip Morris claims a 73.5% share of Mexico’s tax-paid cigarette market for 2012, when its flagship brand Marlboro led the market with a 53.6% share.

Car manufacturing in the UK bounced back in April after a subdued first quarter, the Society of Motor Manufacturers and Traders (SMMT) reported today.

Production increased by 16.6% compared to the same month a year earlier, with 110,033 cars rolling out of the factories.

This mainly reflects demand in the home market, with production of cars destined for UK buyers rising by 66.1% year-on-year. Demand in Europe is still weak and remains a concern, the industry body said.

Mike Baunton, SMMT interim chief executive, noted that the sluggish first quarter was impacted by this year’s early Easter, as well as the continuing uncertainty across Europe.

The significant growth in output for the domestic market reflects trends in new car buying in the UK. A focus in the industry on growing in new markets, beyond Europe, has provided further buoyancy to volumes, Baunton added.

Commercial vehicle makers saw production falling further in April, with output down 3.3% to 8,623 units.

The SMMT pointed out, however, that the rate of decline eased compared to previous months this year and output for the home market grew. While this rising output for the home market is encouraging, 2013 is proving to be a difficult year for UK commercial vehicle manufacturers with weak demand from export markets, particularly Europe, Baunton said.

Figures were also released by the SMMT for UK engine production in April, showing a 9.9% increase in output to 211,452 units. Volumes for the UK market rose, in line with registration trends. Export volumes have fallen in the year to date but showed a modest increase in April.

The SMMT also announced today that a ‘technology stream’ at next month’s SMMT International Automotive Summit will bring together experts from across the industry to explore the prospects for automotive innovation in the UK.

French luxury goods group PPR SA (EPA:PP), which owns a  83% stake in of Puma SE (ETR:PUM), is not looking to increase its interest in the German sporting equipment company at present, PPR’s managing director Jean-Francois Palus said.

Speaking at Puma’s annual shareholder meeting, Palus, also the chairman of the sportswear company, said PPR will focus for the moment on supporting Puma’s transformation aimed at allowing it to take advantage of its potential.

Puma makes and sells sports and sport lifestyle footwear, apparel and accessories under the Puma, Tretorn and Cobra Golf brands.

PPR plans to change its name to Kering as of June, subject to shareholders approval at their annual meeting on 18 June 2013.

UK-based private equity group Bridgepoint Capital Ltd has agreed to acquire French sealing solutions provider The Flexitallic Group from French buyout firm Eurazeo PME via a EUR450m (USD588.9m) deal, the target said.

Flexitallic manufactures and supplies industrial static sealing products such as industrial gaskets and dynamic and static packings to the oil and gas, power generation, chemical and petrochemical industries. Since 2006, when Eurazeo bought a majority stake in the company, Flexitallic has acquired six firms and bolstered its revenues eleven times to EUR210m, it said.

The sale will allow Flexitallic to continue its technological development and geographic expansion in the traditional markets in the US and Europe, as well as in other markets, such as China, it noted, adding that it intended to double its size in the next five years.

According to the buyer, the business being acquired offers significant growth opportunities in North America, where the group already operates, and also in Asia, Australia and South America.

Under the terms of the deal, Eurazeo will keep a minority stake in the business. The transaction is subject to regulatory approval and is seen closing in July.

UK drugmaker GlaxoSmithKline Plc (LON:GSK) has hired JPMorgan Chase & Co (NYSE:JPM) and Greenhill & Co Inc (NYSE:GHL) to help it offload nutritional drink brands Lucozade and Ribena, a spokesperson told Reuters today.

According to the representative, many lenders had shown interest in being GSK consultants on the sale.

Last month, GSK said it had decided to dispose of the specific brands in a drive to reshape its business, improve strategic focus and bolster its growth profile.

Reuters added that Japanese diversified company Suntory Holdings Ltd and buyout firms The Blackstone Group LP (NYSE:BX), BC Partners Ltd, PAI Partners, Lion Capital LLP, Bain Capital LLC, CVC Capital Partners Ltd and KKR & Co LP (NYSE:KKR) are all said to be interested in the two operations.

According to Deutsche Bank AG (ETR:DBK) analysts, the sale should fetch over GBP1.5bn (USD2.3bn/EUR1.8bn), the news agency said.

The UK manufacturing sector is showing signs of stabilising, according to a new report released today.

The Manufacturing Purchasing Managers’ Index (PMI), compiled by the Chartered Institute of Purchasing & Supply (CIPS) and financial information services firm Markit, reveals that the index rose to 49.8 in April, up from 48.6 in March but remaining just below the 50 mark that separates contraction from growth.

April’s PMI figure is a further increase from February’s four-month low, reflecting higher production levels and new orders after two months of contraction.

Rob Dobson, senior economist at Markit, noted that manufacturers were still reporting weakness in domestic markets but there was a solid improvement in new export orders last month resulting from increased sales to customers in North America and Australia, as well as growing markets in Latin America and the Middle East.

In fact, the level of new export work received by UK manufacturers rose for the first time in more than a year and at the fastest pace since July 2011. This made up for lacklustre demand in Europe.

Manufacturing accounts for about 10.5% of the UK’s GDP and the sector acted as a drag on the economy in the first quarter of the year. With forward-looking indicators such as new orders and the demand-to-inventory ratio moving higher, “the sector should at least be less of a drag on broader GDP growth in the second quarter,” Dobson commented.

Stephen Gifford, director of economics at the CBI, said that the Markit/CIPS figures are in line with the business group’s own survey, showing signs of stabilisation in the manufacturing sector, with companies expecting business to pick up over the next few months.

Pointing out that boosting manufacturing exports is essential to the strength of the sector, he added that the CBI wants the government to introduce a tax incentive for small and medium-sized exporters in order to help them enter new markets.

French aerospace, defence and security firm Safran SA (EPA:SAF) said Tuesday it had agreed to buy UK Rolls-Royce Holding PLC’s (LON:RR) 50% interest in the joint RTM322 helicopter engine programme for EUR293m (USD382m) in cash.

The transaction also includes the intellectual property rights related to the programme as well as Rolls-Royce’s 50% stake in the Rolls-Royce-Turbomeca (RRTM) joint venture.

Following completion of the deal, which is seen to occur by the end of 2013, after receipt of regulatory green light, Safran’s helicopter engine unit Turbomeca will take on responsibility of the activities related to the RTM322 engine, with Rolls-Royce providing support during a period of transition of the activities.

RTM322 is viewed as a priority project for Turbomeca, which is committed to develop it to boost its global performance, Safran noted. The deal also crates aftermarket business opportunities relating to the existing fleet, the buyer added.

Following the transition period, Safran expects the move to correspond to benefits translating into over EUR30m of operating income annually, including synergies and new commercial opportunities.

Rolls-Royce’s stake in RTM322 represents revenue of some EUR85m per year.

German carmaker Daimler AG (FRA:DAI) on Wednesday said it had raised gross proceeds of around EUR2.2bn (USD2.9bn) from the sale of its remaining 7.5% in European aerospace and defence group EADS NV (EPA:EAD) to institutional investors.

Daimler, which started the placement on Tuesday, said it had disposed of 61.1m EADS shares at EUR37.00 apiece, with strong demand from investors.

The sale is seen to boost Damiler’s free cash flow this year and help its stable dividend policy, it said today. It also plans to use the cash to back the global growth of its divisions and the extension of its technological leadership, Daimler said in its previous statement.

EADS participated in the placement run by Goldman Sachs Group Inc (NYSE:GS) and Morgan Stanley (NYSE:MS) with an investment of EUR600m in the repurchase of 16m own shares.

German construction group Hochtief AG (FRA:HOT) has received offers for the holdings in five airports it has put on sale, Reuters reported, quoting two people in the know.

Fraport AG (ETR:FRA), which runs the Frankfurt airport, Global Infrastructure Partners, owner of London’s City and Gatwick airports, Canadian investor Brookfield Asset Management Inc (TSE:BAM.A) and German insurer Allianz SE (ETR:ALV) have bid for Hochtief’s stakes in airports in Duesseldorf, Hamburg, Budapest, Sydney and Tirana, while an additional party has made a provisional offer only for the German business being sold, according to the report.

Hochtief, which has interests in six airports, may end up shedding the airport operations in parts, while still aiming to sell them as a whole, the vendor’s CFO Peter Sassenfeld said late in February. The company has excluded the Athens Airport, having decided to wait until conditions in the country improve, the CFO said at the time.

Hochtief put an offload of the six airport interests on ice last year, as it was not able to get a price of EUR1.5bn (USD2bn). The current sale, which is being handled by Deutsche Bank AG (ETR:DBK), could fetch as much as EUR1.2bn, Reuters said, citing a source representing a potential buyer.

French media group Lagardere SCA (EPA:MMB) announced it had started the sale of its stake in European aerospace and defence group EADS NV (EPA:EAD).

Last week, the French group said it would exit EADS by 31 July 2013.

The sale of its 7.4% in the aerospace group, valued at EUR2.4bn (USD3.1bn), is part of the governance restructuring at EADS.

Lagardere will sell the stock through a private placement run by Merrill Lynch and Societe Generale SA (EPA:GLE), the publisher said. A substantial part of the proceeds to be raised from the disposal will be distributed to shareholders, the vendor explained.

EADS’ shareholders backed on 27 March a EUR500m stock repurchase programme, Lagardere added.