Clariane: falls -13% after its E1.5bn plan
Following this announcement, AlphaValue confirms its Buy recommendation, with a price target of 5.86 E.
A capital increase of 300 ME should be launched from 2024, with a commitment from Crédit Agricole Assurances of 200 ME. The company's current market capitalization is 367 million euros, the research firm points out.
' Other measures include a secured credit line of 200 ME, a 230 ME real estate pact (including 140 ME in exclusive negotiations with Crédit Agricole Assurances) and around 1 MdE of asset disposals planned from 2024 '. Crédit Agricole Assurances will remain the largest shareholder after recap.
' The entry of Crédit Agricole Assurances would only make it more 'mission-driven', even if Clariane has become a 'mission-driven' company. This would have a positive impact on the ESG subject, but could weigh on Clariane's short- and medium-term profitability' adds AlphaValue.
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