Report
Clement Genelot

MAISONS DU MONDE: Surprise arrival of a new shareholder still doesn’t give hope for M&A in the short-term | NEUTRAL | EUR13 (-2%)

MAISONS DU MONDE - NEUTRAL | EUR13 (-2%)
Surprise arrival of a new shareholder still doesn’t give hope for M&A in the short-term

Gabriel Naouri and Daniel Kretinsky unveiled a 5.5% stake in MdM
Connecting the dots with Casino’s current situation
Is M&A speculation really consistent in the short-term?
Neutral maintained with attention to refocus Q3 performance
Underlying
Maisons du Monde SA

Maisons du Monde offers a range of decoration and furnishing items in a variety of styles and themes. At end-2016, Co. operated a network of 288 stores in seven countries, France, Italy, Spain, Belgium, Luxembourg, Germany, and Switzerland. It also operates an e-commerce platform available in 11 countries. Co.'s product offering contains approximately 16,000 stock-keeping units available in a range of prices. The offer falls into two categories: decorative products, such as household textiles, tableware and kitchenware, mirrors and picture; and furniture, such as beds, tables, chairs, armchairs and sofas, cupboards, bookshelves, junior furniture and outdoor furniture.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Clement Genelot

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