LEONI AG : Potential major step in the restructuring process announced
>LEONI to sell its Automotive Cable Solutions unit to Stark Corp. - LEONI has announced that it has reached an agreement with Stark Corporation for the acquisition of the former’s Business Group Automotive Cable Solutions, the remaining activity of its WCS division, for an EV of € 560m (~0.43x EV/sales). LEONI has indicated net cash inflow of significantly above € 400m at deal closure, which should also have a corresponding positive effect on reported FCF. Stark Corp...Leoni AG acts as the holding company, engaged in providing wires, optical fibers, cables and cable systems as well as related services for applications in the automotive sector and other industries. Co.'s business comprised of two divisions: Wire & Cable Solutions (WCS), which develops, produces and assembles wires and strands, optical fibers, standard and special cables, hybrid and optical cables as well as complete cable systems for a variety of industrial applications; Wiring Systems Division (WSD), which develops, produces and sells cable harnesses, complete wiring systems as well as related components for the global car, commercial vehicle and supply industry.
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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