Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Credit Suisse Group    CSGN   CH0012138530

CREDIT SUISSE GROUP (CSGN)
My previous session
Most popular
  Report  
Delayed Quote. Delayed  - 01/23 11:19:56 am
12.22 CHF   +0.08%
04:13aApollo Global to buy packaging group RPC for £3.3 billion
RE
01/22UBS sets gloomy tone for Europe's banks
RE
01/22UBS sets gloomy tone for Europe's banks
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations
The feature you requested does not exist. However, we suggest the following feature:

Apollo Global to buy packaging group RPC for £3.3 billion

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/23/2019 | 04:13am EST

(Reuters) - Apollo Global Management is to buy packaging products maker RPC Group for 3.3 billion pounds in cash after months of negotiations, marking the latest M&A deal for an industry in the midst of a consolidation phase.

The acquisition highlights how the sector's reliable cashflow, driven by demand from online shopping, is proving attractive to private equity firms, as well as a spate of takeovers by bigger packaging players.

RPC, Europe's biggest plastic packaging maker, makes a range of products including packaging for beverages, coffee capsules and healthcare products.

Apollo's offer of 782 pence per share represents a premium of 15.6 percent to RPC's closing price on Sept. 7, the last trading day before the offer period began. RPC's shares rose on Wednesday as much as 5.5 percent to 774 pence.

Nicholas Hyett, analyst at Hargreaves Lansdown, said the final offer price was some way behind what analysts had suggested was possible.

Hyett said it was not impossible for a rival bidder to emerge but plastic packaging was far from popular at the moment and with the global economy looking rocky, it might be asking a bit much to expect a rival to pay around 4 billion pounds to keep RPC out of private equity hands.

He also said that with board backing and minimal regulatory concerns, he expected the deal to go through.

The RPC deal is not Apollo's first foray into the plastics and packaging industry. The private equity firm previously owned Berry Plastics, now called Berry Global, a U.S.-based plastics manufacturer and marketer.

Other M&A deals in packaging last year included Australia's Amcor Ltd agreement to buy U.S. firm Bemis Co for $5.25 billion, while DS Smith Plc spent about $2.2 billion to acquire Spanish rival Europac.

The plastics industry is facing tighter regulation in Europe and elsewhere due to environmental concerns.

RPC, which operates in 33 countries and employs about 25,000 people, said in September it was in talks on a possible sale to Apollo and another private equity firm Bain Capital.

The deadlines on the deal for Apollo and Bain were repeatedly extended and Bain Capital ended talks in December.

RPC had said last July that shareholder pressure was preventing it from pursuing some growth opportunities. RPC had been investing heavily to take advantage of China demand as well as produce more recyclable plastics, prompting fears that higher spending would hit cash flow.

Apollo's affiliate will finance the deal through a combination of equity and debt provided by a number of banks.

RPC was advised by Rothschild & Co, Credit Suisse and Evercore. Barclays and Citi acted as lead financial advisers for Apollo.

(Reporting by Sangameswaran S and Arathy S Nair in Bengaluru; Editing by Anil D'Silva and Jane Merriman)

By Sangameswaran S and Arathy S Nair

Stocks mentioned in the article
ChangeLast1st jan.
AMCOR LIMITED 0.00% 13.5 End-of-day quote.1.89%
APOLLO GLOBAL MANAGEMENT LLC 0.29% 27.24 Delayed Quote.10.59%
BARCLAYS -0.31% 162.76 Delayed Quote.8.46%
BEMIS COMPANY, INC. -0.11% 47.49 Delayed Quote.3.14%
CITIGROUP -0.02% 61.78 Delayed Quote.18.81%
CREDIT SUISSE GROUP 0.08% 12.22 Delayed Quote.13.06%
DS SMITH -5.48% 317 Delayed Quote.12.09%
EVERCORE INC -0.81% 82.4 Delayed Quote.16.22%
PAPELES Y CARTONES DE EUROPA SA 0.00% 16.78 End-of-day quote.0.00%
RPC GROUP PLC 4.39% 766.2 Delayed Quote.12.58%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CREDIT SUISSE GROUP
04:13aApollo Global to buy packaging group RPC for £3.3 billion
RE
01/22UBS sets gloomy tone for Europe's banks
RE
01/22UBS sets gloomy tone for Europe's banks
RE
01/22CREDIT SUISSE : CEO sees conditions improving after tough fourth quarter
RE
01/17Orange considers potential bid for Euskaltel - source
RE
01/17CITIGROUP : Appoints New European Chief as Brexit Looms
DJ
01/15CREDIT SUISSE : UK watchdog says has downgraded probe into Credit Suisse over Mo..
RE
01/15French logistics company Gefco hires banks to start IPO process
RE
01/10HSBC to pay $30 million to settle bond rigging lawsuit in U.S.
RE
01/10Credit Suisse Ag Sold 11,265 Shares of Covenant Transportation Group, Inc. (C..
AQ
More news
Financials (CHF)
Sales 2018 21 037 M
EBIT 2018 3 694 M
Net income 2018 2 127 M
Debt 2018 -
Yield 2018 2,66%
P/E ratio 2018 14,58
P/E ratio 2019 8,66
Capi. / Sales 2018 1,48x
Capi. / Sales 2019 1,42x
Capitalization 31 209 M
Chart CREDIT SUISSE GROUP
Duration : Period :
Credit Suisse Group Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CREDIT SUISSE GROUP
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 15,8  CHF
Spread / Average Target 29%
EPS Revisions
Managers
NameTitle
Tidjane Thiam Chief Executive Officer
Urs Rohner Chairman
Pierre-Olivier Marie Bouée Chief Operating Officer
David Richard Mathers Chief Financial Officer
Andreas Niklaus Koopmann-Zulliger Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
CREDIT SUISSE GROUP13.06%31 278
JP MORGAN CHASE & COMPANY7.14%342 318
BANK OF AMERICA18.06%281 280
INDUSTRIAL AND COMMERCIAL BANK OF CHINA1.89%278 366
WELLS FARGO8.20%234 703
CHINA CONSTRUCTION BANK CORPORATION3.61%228 309