Report

Dia : After the successful takeover by LetterOne, we are returning to our fundamental recommendation, at Reduce

>After the extended offer period, LetterOne has taken control of Dia - According to the Spanish market watchdog, CNMV, 40.76% of Dia's capital has been tendered to LetterOne’s offer, launched on 28 March at a price of € 0.67, i.e. € 170m in capital. On this basis, LetterOne (29% of the capital initially) now owns 69.76% of Dia's capital. Capital increase contingent on the agreement with the 17 banks for the syndicated loans - LetterOne is looking to r...
Underlying
Distribuidora Internacional de Alimentacion SA

Distribuidora Internacional De Alimentacion is a supermarket and convenience store group based in Spain. Co. is engaged in the retail trade of food through cut-price self-service supermarkets and franchise establishments. Co. is engaged in the operation of stores located in Spain, France, Portugal, Turkey, Argentina, Brazil and China.

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.

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