Report
Geoffroy Michalet

Eurazeo : CMD: end of a certain hybrid model (big balance sheet + AM for third parties). Massive returns to shareholders with SBB and dividends out to 2027

>End of a hybrid model - The CMD acknowledges, in our view, the realization that, from a stock market perspective, hybrid models combining a very large balance sheet, with an asset management activity on behalf of third parties, are very poorly valued. The group is therefore acting accordingly, by choosing to shrink its balance sheet (which is generally subject to a discount, more or less significant depending on the period, but almost never to a premium). In contrast...
Underlying
Eurazeo SA

Eurazeo is a listed investment company in Europe. Co. invests in French or other European companies in which it can exercise influence. Co. divides its operaion in five divisions: Holding company, Eurazeo Capital, Eurazeo PME, Eurazeo Croissance, and Eurazeo Patrimoine. Holding company focuses on investment in non-consolidated fund business; Eurazeo Capital invests in companies valued over Euro150,000,000 to Euro200,000,000; Eurazeo PME invests in enterprises valued at less than Euro150,000,000 to Euro200,000,000; Eurazeo Croissance targets companies with high growth potential in promising markets; and Eurazeo Patrimoine groups Co.'s real estate asset management and investment activities.

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
Geoffroy Michalet

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