Wendel: Degroof Petercam skeptical about IK Partners rumour
(CercleFinance.com) - On Monday Degroof Petercam renewed its "hold" rating on Wendel shares, with a target price of E100, in reaction to rumours surrounding a possible takeover of private equity firm IK Partners.
According to Bloomberg, Wendel has its eye on this company, which operates in Benelux, the DACH region (Germany, Austria, Switzerland), France, the Nordic countries and the UK.
Since its creation in 1989, IK has raised over E14bn and invested in some 180 European companies.
While Degroof Petercam believes that Wendel has the resources to carry out such an acquisition following the sale of Constantia Flexibles, the analyst also points out that this is not a buoyant market segment, as evidenced by the current stock market difficulties of players such as Eurazeo, Tikehau Capital and GBL.
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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.
According to Bloomberg, Wendel has its eye on this company, which operates in Benelux, the DACH region (Germany, Austria, Switzerland), France, the Nordic countries and the UK.
Since its creation in 1989, IK has raised over E14bn and invested in some 180 European companies.
While Degroof Petercam believes that Wendel has the resources to carry out such an acquisition following the sale of Constantia Flexibles, the analyst also points out that this is not a buoyant market segment, as evidenced by the current stock market difficulties of players such as Eurazeo, Tikehau Capital and GBL.
Copyright (c) 2023 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.