Fiat Chrysler Automobiles N.V. - Mergers & Acquisitions (M&A), Partnerships & Alliances

Summary Marketline's Fiat Chrysler Automobiles N.V. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Fiat Chrysler Automobiles N.V. - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic grow...

Peugeot Invest - FY23: High discount but potential for better times

• FY23 NAV at EUR 237.7 p/s, up 21.1%, in line with our estimate. Proposed dividend of EUR 3.25 p/s, up 14% YoY, and above our estimate. The real estate portfolio struggled with full impairment• We estimate today's NAV to be EUR 283.4 p/s, implying a discount of 58%. That is incredibly high and among the highest in the sector. We look forward to the announcement of the new CEO in hopes that he/her will bring change to the strategy and portfolio composition. This could become a major trigger for the discount• In the meantime, we reiterate our Hold rating.

Peugeot Invest - Signa declares insolvency

• Signa, one of the largest private real estate companies in Europe, declared insolvency on Wednesday evening• Peugeot Invest has invested about EUR 306m in Signa vehicles or about 5% of the NAV. This is now at risk of being wiped out following a much-needed restructuring. We took a full impairment for EUR 12 p/s• We estimate the adjusted NAV at EUR 206.8 p/s implying a discount of 49%. We lower our TP to EUR 109 (vs. EUR 121 before). Hold reiterated

New Immo Holding : Initiation of coverage of New Immo Holding

ELO has initiated a project to make its subsidiaries New Immo Holding (NIH) and Auchan Retail financially independent through a debt pushdown process. In this study, we review the operation and the latest developments at Auchan Retail, as well as their impact on the NIH property company, which we are initiating coverage of.

CRH : Why settle for just the stars?

New Immo Holding : Initiation de couverture de New Immo Holding

ELO a initié un projet d’autonomie des financements de ses filiales New Immo Holding (NIH) et Auchan Retail, via un procédé de debt pushdown. Dans cette étude, nous revenons sur l’opération et sur les dernières dynamiques d’Auchan Retail, ainsi que sur leurs impacts sur la foncière immobilière NIH, que nous initions en couverture.