Rolls-Royce: an EDF subsidiary could buy a division
(CercleFinance.com) - Framatome, a 75.
5%-owned subsidiary of EDF, could acquire Rolls-Royce's international control and instrumentation division for nearly 110 million euros, according to Invest Securities, which quotes Sky News.
Note that Assystem has a 5% stake in Framatome and that this stake is currently worth 163 million euros in our sum-of-the-parts calculation, based on a multiple of seven times 2018 EV/EBITDA, the broker says.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
5%-owned subsidiary of EDF, could acquire Rolls-Royce's international control and instrumentation division for nearly 110 million euros, according to Invest Securities, which quotes Sky News.
Note that Assystem has a 5% stake in Framatome and that this stake is currently worth 163 million euros in our sum-of-the-parts calculation, based on a multiple of seven times 2018 EV/EBITDA, the broker says.
Copyright (c) 2019 CercleFinance.com. All rights reserved.