The valuation agreement will allow the U.K. company to buy its German partner out of diesel-engines maker Rolls-Royce Power Systems.
European and Asian markets put Ukraine behind them for now. China's economy less bad than feared and Japan reaps the Alibaba effect.
Asian and European markets recover a bit of their their mojo Wednesday morning.
British drinks group Diageo on Tuesday launched a bid for majority control of India's United Spirits that would value the company's entire share capital at $7.3 billion.
Escalating tension in Ukraine unsettled markets in Europe this morning, while oil major BP was badly affected because of its holding in Russian state run Rosneft.
Tension in the Ukraine is rising again and markets are sinking in Europe and Asia.
British plastic piping manufacturer Polypipe Group squirted 120 million shares onto the London market Friday, April 11, with an initial public offering priced at 245 pence a share and an opening market capitalization of 490 million pounds ($819.5 million).
The Big Three German auto-makers wheel out good figures and drive up their stock prices, but Germany's exports disappoint for February, before the effects of Ukraine were even felt.
European markets are higher Wednesday despite continued apprehension over events in Ukraine and disappointing monthly trade figures for Germany and the U.K.
European stocks were held back by Ukraine tensions in early trading Tuesday, and not even better than expected industrial production figures in London could boost the mood.