ABB : The announcements should support the valuation
>We take a positive view of the disposal - In selling Power Grids (PG), ABB exits a volatile, competitive business where margins are low. The valuation of € 11bn looks solid (12.5x and 11.2x in terms of EV/EBIT 2018e and 2019e respectively). ABB’s management also announced its aim of returning quickly and “efficiently†$ 7.6bn-7.8bn to shareholders after the deal closes, probably via a share buyback: this represents around 19% of the market capitalisation, which is mo...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.
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.
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