Saint-Gobain: Oddo a big buyer of share
(CercleFinance.com) - Oddo has reinstated its "buy" recommendation on the Saint-Gobain stock, maintaining its target price of 60 euros, in a context marked by the end of the ongoing conflict between the group and Sika, which is specialised in the production, processing and distribution of materials.
Saint-Gobain acquired Schenker-Winkler Holding (SWH) from the Burkard family for a price of 3.22 billion Swiss francs, and Sika bought from Saint-Gobain 6.97% of its own share capital for 2.08 billion Swiss francs. Through SWH, Saint-Gobain has also committed itself to maintaining a 10.75% stake in Sika for at least two years.
The broker says that this new agreement, which is very different from that initially envisaged, has the advantage of ending all ongoing legal proceedings and thus eliminates lingering uncertainties around Saint-Gobain. It also results in a gain of over 1 euro per Saint-Gobain share.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Saint-Gobain acquired Schenker-Winkler Holding (SWH) from the Burkard family for a price of 3.22 billion Swiss francs, and Sika bought from Saint-Gobain 6.97% of its own share capital for 2.08 billion Swiss francs. Through SWH, Saint-Gobain has also committed itself to maintaining a 10.75% stake in Sika for at least two years.
The broker says that this new agreement, which is very different from that initially envisaged, has the advantage of ending all ongoing legal proceedings and thus eliminates lingering uncertainties around Saint-Gobain. It also results in a gain of over 1 euro per Saint-Gobain share.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.