TKH GROUP NV : CAE systems French Smart Connectivity distributors divested
>Low multiple but material cash proceeds, 2021 CMD target achieved - TKH has finally been able to sell the company that was classified as asset held for sale for more than a year and a half. TKH is selling the unit to an unknown French private equity company for an enterprise value of € 118m, which implies an EV/EBITDA of 5.6x (AOe), signalling that it was a tough process. TKH will reinvest € 26.5m of the proceeds to retain a 40% stake so it may profit down the line, ...TKH Group creates and supplies Telecom, Building and Industrial Solutions. Telecom Solutions develops, produces and supplies systems ranging from outdoor infrastructure for telecom and CATV networks through to indoor home networking applications. Building Solutions develops, produces and supplies solutions in the field of electro-technology ranging from applications within buildings through to technical systems that - combined with software - provide solutions for the care and security sectors. Industrial Solutions develops, produces and supplies solutions ranging from specialty cable, "plug and play" cable systems through to integrated systems for the production of car and truck tires.
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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