Ayvens : Scenario of a takeover credible, but only in the medium to long term
>No reason to anticipate a takeover in the short term - Following our flash on Friday last week, we had contact with the company. The weakness of the share price lends credibility to the scenario of SG’s takeover of Ayvens (ex-ALD+LeasePlan), but: 1/ this could only happen on a medium/long term horizon, with the constraints of the lock-ups and financing rendering an operation in the short term very unlikely and, of course 2/ the weakness of the share price since the...ALD is a service leasing and vehicle fleet management group with a fleet of more than 1,375,000 vehicles in 41 countries. Under a full-service lease, the client pays the leasing company a regular monthly lease payment to cover financing, depreciation of the vehicle and the cost of various services provided in relation to the use of the vehicle (such as maintenance, replacement car, tyre management, fuel cards and insurance). Fleet management services include the provision of outsourcing contracts to clients under which the vehicle is not owned by Co., but is managed by Co. and for which the client pays fees for the various fleet management services provided.
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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