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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Arkema    AKE   FR0010313833

ARKEMA

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Arkema : Bpifrance fund targets chemicals maker Arkema for first investment

11/03/2020 | 02:45am EST

PARIS, Nov 3 (Reuters) - French public investment bank Bpifrance said on Tuesday it had bought 5.08% of chemicals group Arkema in the first investment of its new equity investment fund Lac1 that was set up to boost French firms.

Bpifrance has so far deployed 348 million euros ($405.7 million) from the 4.2 billion fund building up the stake since June and aims to keep adding to the position, Chief Executive Nicolas Dufourcq told journalists.

Bpifrance, which manages the fund, has put 1 billion euros of its own money into Lac1 with the aim of shoring up the capital base of big French companies with long-term investments.

Abu Dhabi sovereign wealth fund Mubadala Investment Co has also put 1 billion euros into the fund while French insurers and other investors have committed 1.2 billion euros. The fund has also raised 1 billion euros in debt for its investments.

Bpifrance said in the past it eventually aimed to raise up to 10 billion euros for the fund and invest in about 15 companies.

Dufourcq said Bpifrance was looking at other companies and was close to taking a decision on another investment.

($1 = 0.8578 euros) (Reporting by Leigh Thomas; Editing by Edmund Blair)


© Reuters 2020
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Sales 2020 7 749 M 9 344 M 9 344 M
Net income 2020 367 M 442 M 442 M
Net Debt 2020 1 612 M 1 943 M 1 943 M
P/E ratio 2020 20,8x
Yield 2020 2,51%
Capitalization 7 371 M 8 912 M 8 888 M
EV / Sales 2020 1,16x
EV / Sales 2021 1,10x
Nbr of Employees 20 500
Free-Float 89,2%
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Technical analysis trends ARKEMA
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 100,58 €
Last Close Price 96,64 €
Spread / Highest target 15,9%
Spread / Average Target 4,08%
Spread / Lowest Target -8,94%
EPS Revisions
Managers and Directors
NameTitle
Thierry le Hénaff Chairman & Chief Executive Officer
Marc Schuller Chief Operating Officer
Marie-José Donsion Chief Financial Officer
Christian Collette Chief Technical Officer
Laurent Mignon Independent Non-Executive Director
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