FFP : A full diary - FCA-PSA merger: a key driver for the future valuation
FFP’s diary might be very full in 2020: spin-off of Faurecia, merger between FCA and PSA, a probable acquisition of shares in Faurecia and newco to breach the 5% threshold and, last but not least, the Peugeot clan’s possible acquisition of a 2.5% stake in newco from Dongfeng as a means of reducing the latter's weight and ramping up the combined shareholding with BPI to match Exor's level. Buy (target price € 138 vs € 134): the merger offers significant leverage on FFP’s future va...Societe Fonciere, Financiere ACT is an investment holding company which acts as a long-term investor and an active shareholder. As of Dec 31 2010, Co. held 22.1% of the share capital of PSA Peugeot Citroen. Co. usually purchases minority stakes in companies with a large family shareholding. Co. has a portfolio of private equity funds which operate mainly in Europe and countries with emerging economies. Co. also operates a financial investment and cash management business, as well as a real estate and wine-producing businesses.
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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