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(Sponsored) Whitestone Group - Buying a 28% stake in Telemis for EUR 9m
• Whitestones acquires a 28% stake in Telemis for EUR 9.1m• Acquisition is sizeable and in line with recently adjusted strategy• We estimate the NAV at EUR 14.5 p/s, implying a 11.5% discount. That is in line with our target discount (10%). Hence, we reiterate our Hold rating. Our TP moves up from EUR 13.5 to EUR 14.1
Underlying
WHITESTONE GROUP
Provider
Degroof Petercam
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