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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Altarea Cogedim    ALTA   FR0000033219

ALTAREA COGEDIM

(ALTA)
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Altarea Cogedim : enters into exclusive negotiations to acquire the property developer, (...)

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11/13/2018 | 12:33pm EDT
Altarea Cogedim enters into exclusive negotiations with the shareholders of the property developer, Sévérini, for its acquisition.

Created in 1984, Sévérini is a residential property developer, mainly active in the Nouvelle-Aquitaine region, and more marginally in the Paris area. Based in Bordeaux, it has 35 employees and generated revenue of €55 million in respect of the financial year ended 31 March 2018.

This acquisition will notably enable Altarea Cogedim to reinforce its business in Nouvelle-Aquitaine, by building on Sévérini's skills and anchorage in the region.

Sévérini's shareholders and Chairman, Jean-Louis Sévérini, wanted to team the company up with a major property player in order to support its development.

Altarea Cogedim aims to acquire 85% of Sévérini's capital by 31 December 2018. After a three-year period during which Mr Jean-Louis Sévérini will remain Company Chairman, Altarea Cogedim could acquire the remaining share capital.

Completion of the transaction is subject to the signature of the final agreements between the parties and prior approval from the Autorité de la Concurrence (French Competition Authority) under merger control regulations.

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Altaréa SCA published this content on 13 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 13 November 2018 17:28:08 UTC

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Financials (EUR)
Sales 2020 3 083 M
EBIT 2020 468 M
Net income 2020 333 M
Debt 2020 2 707 M
Yield 2020 11,9%
P/E ratio 2020 5,55x
P/E ratio 2021 6,11x
EV / Sales2020 1,47x
EV / Sales2021 1,34x
Capitalization 1 839 M
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Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 210,00  €
Last Close Price 111,20  €
Spread / Highest target 88,8%
Spread / Average Target 88,8%
Spread / Lowest Target 88,8%
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Managers
NameTitle
Alain Taravella Chairman-Management Board
Jacques Dominique Ehrmann Chief Executive Officer
Christian de Gournay Chairman-Supervisory Board
Eric Dumas Chief Financial Officer
Nabil Akl Group Technical Director