Saint Gobain: share up 4%; Pont-à-Mousson to be sold
(CercleFinance.com) - The share is bubbling in the stockmarket this morning, up almost 4%, after an article in the economic daily Les Echos said that the group could sell Pont-à-Mousson in the coming weeks.
This group appears to be in talks with the Chinese group XinXing, Les Echos says.
The share is trading at an historically high discount of over 40% relative to its listed peers, Oddo says.
Oddo believes that the group will continue selling underperforming assets in 2020 and that it could well exceed its target of 3 billion euros in sales divested.
Oddo estimates that the sale of Pont à Mousson would improve Saint Gobain's margin by 10 bp.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
This group appears to be in talks with the Chinese group XinXing, Les Echos says.
The share is trading at an historically high discount of over 40% relative to its listed peers, Oddo says.
Oddo believes that the group will continue selling underperforming assets in 2020 and that it could well exceed its target of 3 billion euros in sales divested.
Oddo estimates that the sale of Pont à Mousson would improve Saint Gobain's margin by 10 bp.
Copyright (c) 2019 CercleFinance.com. All rights reserved.