Report
Fehmi Ben Naamane ...
  • Matthias Desmarais

Whitbread : Whitbread cède sa division Costa ; une opération très relutive pour les actionnaires – Neutre (vs Achat)

>Whitbread cède sa division Costa à Coca-Cola - Coca-Cola rachète la division Costa de Whitbread, représentant 39% du chiffre d’affaires et 23% de l’EBIT du groupe britannique en 2018e. Avec cette annonce, Whitbread change son fusil d’épaule puisque le groupe avait annoncé, en avril dernier, vouloir seulement opérer une scission (à horizon 24 mois). Il semblerait que le prix proposé ait convaincu le management de céder sa pépite alors que le groupe est en pleine restr...
Underlying
Whitbread PLC

Whitbread is a hospitality company. Co. serves its customers in the U.K. and beyond through its two businesses: Premier Inn and Restaurants; and Costa. Premier Inn is a hotel business, with over 760 hotels and more than 68,000 rooms as of Mar 2 2017. Co.'s hotel are located alongside its own restaurant brands. Co. also have hotels in the Middle East, and Germany, with more hotels in the pipeline. Costa is the coffee shop, with over 2,200 coffee shops in the U.K., over 1,300 stores in 29 international markets and over 6,800 Costa Express self-serve units as of Mar 2 2017.

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
Fehmi Ben Naamane

Matthias Desmarais

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