Report
Geoffroy Michalet

Eurazeo : CMD : la fin d’un certain modèle hybride (gros bilan + AM compte de tiers). Retour massif à l’actionnaire avec SBB et dividendes jusqu’en 2027

>La fin d’un certain modèle hybride - Le CMD acte, selon nous, la prise de conscience que d’un point de vue boursier, les modèles hybrides combinant un très large bilan, couplé à une activité de gestion d’actifs pour compte de tiers, sont très mal valorisés. Le groupe agit donc en conséquence, en faisant le choix de réduire son bilan (qui est généralement frappé d’une décote, plus ou moins importante selon les périodes, mais quasiment jamais d’une prime). Il continue ...
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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