Rubis : Surprise acquisition of a stake by Bolloré – We upgrade to Outperform
>Surprise acquisition of a stake by Bolloré - Bolloré declared yesterday to the AMF that it had crossed the threshold of 5% of the capital and voting rights in Rubis following the acquisition of shares (via Plantations des Terres Rouges which it controls) for an amount that may be estimated at around € 130m (based on an average price of € 25).It therefore becomes a major shareholder in Rubis since only Groupe Industriel Marcel Dassault has a slightly larger stake...Rubis is a holding company based in France. Co., through its subsidiaries, is engaged in the bulk import, production or distribution process, and storage of petroleum products in Europe, the Caribbean, and Africa. Co. operates bulk liquid storage facilities for petroleum products, chemicals, fertilizers, edible oils and molasses, and foodstuffs, as well as distributes butane, propane, and petroleum products in wholesale and retail. Co.'s customers primarily include hypermarkets and supermarkets; oil companies; chemists; and traders and intermediaries of fuel, oil or gas, manures, and other liquids.
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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