Report
Florent Laroche-Joubert

Unibail-Rodamco-Westfield : A call on the management of the health crisis and URW’s strategic vision!

>Primarily a credit risk issue! - The ultimate aim of the RESET plan put forward by URW’s management and the counterproposals of the investor consortium REFOCUS are in opposition, in our view, on two different issues:Are we to take immediate action in the face of a potential credit risk related to the health crisis: URW’s management believes the answer is yes and proposes that it be addressed straight away through a capital increase of € 3.5bn in order to be shie...
Underlying
Unibail-Rodamco-Westfield SE Stapled Secs Cons of 1 Sh Unibail Rodamco + 1 Sh WFD Unib Rod

Unibail-Rodamco is a commercial property operator, investor and developer. Co. is operationally organized in six geographical regions: France, Spain, Central Europe, Austria, the Nordics and The Netherlands. Its activities are divided into three business lines or segments: Shopping Centres, Offices and Convention & Exhibition. Co.'s Shopping Centres segment focuses primarily on the retail sector; the Offices segment takes care of office assets that are mainly located in the Parisian Central Business District; and the Convention-Exhibitions segment consists of a real estate venues and operations organization, and trade show organization.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Florent Laroche-Joubert

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