Mediawan : Valuation raised, pending our recommendation on the offer
We have raised our valuation to € 13 per share vs € 11, factoring in the synergies linked to the acquisition of Lagardère Studios. As the offer is due to close on 28 September we are holding back on giving our recommendation since visibility on regulatory reform is limited for the time being. - >A minority buyout, but listing probably maintained - Working in concert, KKR, MACSF and the group’s founding shareholders have launched a bid for Mediawan’s minority interests....Mediawan was incorporated as a Special Purpose Acquisition Company for the purpose of acquiring one or more operating businesses or companies in the traditional and digital media content and entertainment industries in Europe. Through it's subsidiary, Groupe AB, Co. is an independent publisher, producer and distributor of audiovisual content in French-speaking Europe. Its main activities are producing and distributing TV series, TV films, cartoons and documentaries as well as publishing TV channels and related digital services. The group has a portfolio of 19 channels, which are distributed in French-speaking Europe and Africa.
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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