Report
Delphine Brault

ABB : Cession effective de Power Grids à Hitachi pour 11 Md$ + retour de cash de 7.6-7.8 Md$ aux actionnaires

>Une cession de 80% (option sur les 20% restants), retour de cash rapide - ABB annonce la cession de 80% de Power Grids (PG) à Hitachi pour 7.6-7.8 Md$ avec une option ferme de céder les 20% restants après 3 ans à un prix prédéfini. La valorisation sous-jacente en VE est de 11 Md$ pour 100% de PG, ce qui correspond à 11.1x VE/op. EBITA 2018e et 10.2x 2019e selon nos prévisions, soit 12.5x et 11.2x en VE/ EBIT resp. Le prix est en ligne avec les chiffres de 10-13 Md$ r...
Underlying
ABB Ltd.

ABB specializes in power and automation technologies. Co. provides a broad range of products, systems, solutions and services that are designed to boost industrial productivity, increase power grid reliability, and enhance energy efficiency. Co.'s automation businesses serve a full range of industries with process optimization, control, measurement and protection applications. Co.'s power businesses focus on power transmission, distribution and power-plant automation, and support electric, gas and water utilities, as well as industrial and commercial customers.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Delphine Brault

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