Affine : Affine creating financial headroom by selling Banimmo. Target price raised, rating upgraded to Buy.
>Affine is in the process of selling its stake in Banimmo - Patronale Life, a Belgian life insurance company, has just launched a voluntary and unconditional takeover bid in cash for Banimmo SA’s entire share capital. Affine, meanwhile, has confirmed that it plans to tender its 49.5% stake to this offer. The price being offered is € 3.30/share, i.e. the volume weighted average share price of the past 6 months.This means that Affine will be able to get € 18.6m for...Affine is a property company specializing in commercial property. Co. is engaged in real estate activities and leasing activities. Co.'s activities are divided into four poles: a Parisian pole (offices), and 3 regional poles (offices, retail, warehouses & industrials). Office premises in French regions represent 43% of the portfolio and contain major assets such as the Lille Europe tower; Retail focuses on commercial properties, which consist chiefly of city-centre retail areas; and Warehouses and Industrials represents the logistics properties of the Affine group, including several types of platform, most of these being bi-modal (rail/road).
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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