Whitbread : Whitbread sells its Costa division; a highly accretive deal for shareholders – Neutral (vs Buy)
>Whitbread sells its Costa division to Coca-Cola - Coca-Cola is acquiring Whitbread’s Costa division, which represents 39% of the UK group’s sales and 23% of its EBIT in the UK in 2018e. This announcement amounts to a change of tack for Whitbread, which said back in April that it only wanted to carry out a spin-off (within a 24-month time frame). It would appear that the price offered convinced the management to sell this valuable asset at a time when the group is in ...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.
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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