Bureau Veritas: stock down as Wendel sells stake
(CercleFinance.com) - Bureau Veritas shares are down 3% after a placement of shares by Wendel, as part of a three-year pre-financed forward sale, increasing its financial leeway by reducing its pro-forma loan-to-value ratio to around 17%.
Thus, 30,357,140 shares of the testing, inspection and certification services group (representing around 6.7% of the capital) were placed at a price of E27.25 per share, as part of this forward sale agreement concluded with BNP Paribas.
At the same time, Wendel entered into a "Call Spread" transaction to benefit from up to 15% of the share price increase over the next three years on an amount of shares equivalent to those underlying the forward sale.
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Thus, 30,357,140 shares of the testing, inspection and certification services group (representing around 6.7% of the capital) were placed at a price of E27.25 per share, as part of this forward sale agreement concluded with BNP Paribas.
At the same time, Wendel entered into a "Call Spread" transaction to benefit from up to 15% of the share price increase over the next three years on an amount of shares equivalent to those underlying the forward sale.
Copyright (c) 2025 CercleFinance.com. All rights reserved.