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    1COV   DE0006062144

COVESTRO AG

(1COV)
  Report
Real-time Estimate Tradegate  -  02:30 2022-09-28 am EDT
28.96 EUR   -0.74%
09/27FACTBOX - How Germany's industrial giants are preparing for winter
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09/27COVESTRO : Gets a Neutral rating from JP Morgan
MD
09/26X2F and Covestro Launch New Collaboration on Innovative In-Mold Electronics for Automotive Lighting
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H.I.G. Capital, LLC completed the acquisition of European Polyurethane Systems Business from Covestro AG.

11/01/2019 EDT

H.I.G. Capital, LLC signed a definitive agreement to acquire European Polyurethane Systems Business from Covestro AG on June 17, 2019. European Polyurethane Systems Business generates annual revenue of €230 million. European Polyurethane Systems Business will be led by Jörg Schottek. The company intends to continue working with the current experienced management team. Operations will continue at the current facilities while Covestro will continue to have strong ties with the systems houses as a key polyurethanes supplier. Apera Capital will provide funding. The transaction is subject to clearing by the relevant antitrust authorities. The transaction is expected to close in second half of 2019. Michael Haidinger, Christian Ruoff, Katrin Gaßner, Julia Sellmann, Till Burmeister, Philipp Dohnke, Sascha Arnold, Merit Olthoff, Bertrand Guerin, Jacob Fontaine, Johannes Schiele, Vasco Ollero, Philipp Lehmann, Jonas Dereje, Jan Hobus, Naemi Groh and Paloma Pietsch of Freshfields Bruckhaus Deringer (Germany) acted as legal advisors to HIG Capital. Michael Josenhans, Simon Reitz and Yara Bevaart of Freshfields Bruckhaus Deringer acted as legal advisors to Apera. Sabine Schomaker, Ulf Gosejacob, Michael Beyer and Lucas Merschmöller of Taylor Wessing acted as legal advisors to HIG Capital. Jens Uhlendorf, Marcus Schreibauer, Heiko Gemmel, Martin Sura, Tim Gero Joppich, and Katlen Blöcker of Hogan Lovells International LLP, Johannes Buntjer, Jan de Snaijer, and Anton Louwinger of Hogan Lovells International Llp, Alex Dolmans, Juan Garicano, and Luis Enrique de la Villa of Hogan Lovells (Alicante) S.L. & CompaÑia Sociedad Colectiva, and Luca Picone and Fulvia Astolfi of Hogan Lovells Studio Legale acted as legal advisors to Covestro AG. Lincoln International acted as financial advisor to Covestro AG (XTRA:1COV). H.I.G. Capital, LLC completed the acquisition of European Polyurethane Systems Business from Covestro AG on November 1, 2019.


© S&P Capital IQ 2019
All news about COVESTRO AG
09/27FACTBOX - How Germany's industrial giants are preparing for winter
RE
09/27COVESTRO : Gets a Neutral rating from JP Morgan
MD
09/26X2F and Covestro Launch New Collaboration on Innovative In-Mold Electronics for Automot..
CI
09/22COVESTRO : DZ Bank remains Neutral
MD
09/20COVESTRO : Berenberg remains Neutral
MD
09/20COVESTRO : Buy rating from Goldman Sachs
MD
09/15Covestro Secures Biogenic Carbon Dioxide Supply in Germany from Italy's SOL
MT
09/15Covestro : and SOL Kohlensäure sign framework agreement for biogenic carbon dioxide (CO..
PU
09/13COVESTRO : Gets a Neutral rating from JP Morgan
MD
09/12Covestro : introduces more sustainable polyether polyols based on bio-circular raw materia..
PU
More news
Analyst Recommendations on COVESTRO AG
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Financials
Sales 2022 17 821 M 17 106 M 17 106 M
Net income 2022 621 M 596 M 596 M
Net Debt 2022 2 665 M 2 558 M 2 558 M
P/E ratio 2022 8,52x
Yield 2022 6,24%
Capitalization 5 574 M 5 350 M 5 350 M
EV / Sales 2022 0,46x
EV / Sales 2023 0,50x
Nbr of Employees 17 909
Free-Float 95,2%
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 29,17 €
Average target price 43,16 €
Spread / Average Target 48,0%
EPS Revisions
Managers and Directors
Markus Steilemann Chief Executive Officer
Thomas Toepfer Chief Financial Officer & Labor Director
Richard Pott Chairman-Supervisory Board
Klaus Schäfer Chief Technology Officer
Petra Kronen Vice Chairman-Supervisory Board
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