Saint Gobain: in exclusive talks to sell Lapeyre?
(CercleFinance.com) - Saint-Gobain's process to sell Lapeyre, which it began last September, is in its final stretch, according to Le Figaro.
Saint-Gobain appears to have selected two candidates, two investment funds specialising in company turnarounds: the French fund, Equinox Industries, and the German fund, Mutares, Oddo says in its daily equity review.
Exclusive negotiations are scheduled for this summer, before the deal is finalised in the autumn.
Saint-Gobain would be ready to finance the buyer. In other words, the group would pay E300m/E400m to get rid of this asset..., Oddo says.
The broker says that Saint-Gobain appears to be well equipped to face this difficult situation, with free cash of 5 billion euros, in addition to credit facilities of 4 billion euros, Oddo adds. The broker confirms its buy rating on the share, with a target price of 42 euros.
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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 appears to have selected two candidates, two investment funds specialising in company turnarounds: the French fund, Equinox Industries, and the German fund, Mutares, Oddo says in its daily equity review.
Exclusive negotiations are scheduled for this summer, before the deal is finalised in the autumn.
Saint-Gobain would be ready to finance the buyer. In other words, the group would pay E300m/E400m to get rid of this asset..., Oddo says.
The broker says that Saint-Gobain appears to be well equipped to face this difficult situation, with free cash of 5 billion euros, in addition to credit facilities of 4 billion euros, Oddo adds. The broker confirms its buy rating on the share, with a target price of 42 euros.
Copyright (c) 2020 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.