Van Lanschot Kempen : Buyout positive for EPS offset by lower equity markets, EPS23 unchanged
>Conclusion: Buyout positive for EPS being offset by lower equity markets - As Van Lanschot (VLK) is buying out the remaining 30% of Mercier VanderLinden (MvdL) earlier than planned 1) we estimate VLK is paying about 6-8% more than it would pay it would gradually buy the stake out, but this extra payment is only about 1% of the market cap of VLK, 2) as a result the negative cost charge related to MvdL will fall away for the next three years, which is about 8% positive...Van Lanschot is the holding company of F. van Lanschot Bankiers NV in the Netherlands. Co.'s services focus on high net-worth individuals and entrepreneurs. Co. also, through it's subsidiary Kempen & Co., also serves the institutional market and offers investment services. Co.'s services are organized into five business segments: Private Banking, Asset Management, Business Banking, Corporate Finance and Securities and other activities. Other Activities include activities relating to the management of interest rate, market and liquidity risk.
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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