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Carole Braudeau
  • Carole Braudeau

Credit Morning 11/04/2025

Webuild: CFR upgraded by S&P to BB+|ELO a achevé la mise en autonomie financière d’Auchan Retail et de NIH et a bénéficié du soutien de l’AFM à hauteur de 425 m EUR|Picard: new SUNs offering due 2032 and tender offer on the existing SUNs due 2027|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 04/11/2025

Webuild: CFR upgraded by S&P to BB+|ELO a achevé la mise en autonomie financière d’Auchan Retail et de NIH et a bénéficié du soutien de l’AFM à hauteur de 425 m EUR|Picard : émission d’une nouvelle obligation SUN de maturité 2032 et tender sur la souche 2027|

Guy Sips
  • Guy Sips

Kinepolis Group Acquiring the operations of US movie theatre chain Ema...

Kinepolis will acquire the operations of the US movie theatre chain Emagine Entertainment. Kinepolis will add 14 cinemas to its portfolio, representing 177 screens and 18,000 seats, located in Michigan, Illinois, Indiana, and Wisconsin. Kinepolis expects to complete the acquisition by the end of the year. The agreement represents a transaction value of $105m (€ 91m) for 100% of Emagine's business. An additional earn-out amount of up to $15m (€ 13m) is linked to the growth of the US Box Office du...

Guy Sips ... (+3)
  • Guy Sips
  • Jacob Mekhael
  • Wim Hoste
Jacob Mekhael
  • Jacob Mekhael

UCB Secures FDA approval for Kygevvi in ultra-rare disease TK2d

UCB announced that Kygevvi (doxecitine and doxribtimine) has been granted approval by the US FDA in adults and paediatric patients living with thymidine kinase 2 deficiency (TK2d), with an age of symptom onset on or before 12 years. The approval comes in line with the company's guidance of a decision before YE25, making it the first and only approved treatment in this setting. Note that TK2d is an ultra-rare genetic mitochondrial disease with no approved therapies, and has a prevalence of 1.64 p...

Wim Hoste
  • Wim Hoste

Umicore FIRST LOOK: Silicon-anodes JV with HS Hyosung Advance Material...

After more than a decade of R&D efforts on developing silicon carbon composite anode materials for EV batteries, Umicore now believes its technology is ready for industrialization & commercialization and has announced its intention to create a JV with HS Hyosung Advanced Materials. Umicore will retain a minority stake in the JV, which will allow the group to limit expenditure for the roll-out of its anode technology. This approach is very much in sync with the approach taken for the cathode acti...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Azelis: Appointment of Boris Cambon-Lalanne as group CFO. Belgian Telecoms: Price increase on most of the non-commercialised products and Scarlet trio. D'Ieteren: Belgian October car registrations down 7%, VW down 20%. Kendrion: Results preview; launching share buyback programme. Kinepolis: Acquires US movie theatre chain Emagine Entertainment for US$105m. Kinepolis: October box office in US/Canada and France attendance drop again. Ontex: Branded activity now fully divested. Philip...

 PRESS RELEASE

Kinepolis signs agreement to acquire the operations of US movie theatr...

Kinepolis signs agreement to acquire the operations of US movie theatre chain Emagine Entertainment Kinepolis signs agreement to acquire the operations of US movie theatre chain Emagine Entertainment Regulatory release - Inside information 4 November 2025, 7:00 AM CET Kinepolis (Euronext: KIN) has reached an agreement to acquire the operations of the US movie theatre chain Emagine Entertainment. Kinepolis expects to complete the acquisition by the end of the year. As a result of this agreement, Kinepolis will add 14 cinemas to its portfolio, representing 177 screens and 18,000 seats, ...

 PRESS RELEASE

Kinepolis signe un accord pour l'acquisition des activités de la chaîn...

Kinepolis signe un accord pour l'acquisition des activités de la chaîne de cinémas américaine Emagine Entertainment Kinepolis signe un accord pour l'acquisition des activités de la chaîne de cinémas américaine Emagine Entertainment Information réglementée et privilégiée 4 novembre 2025, 7:00 AM CET Kinepolis (Euronext : KIN) a conclu un accord pour l'acquisition des activités de la chaîne de cinémas américaine Emagine Entertainment. Kinepolis prévoit de finaliser l'acquisition d'ici la fin de l'année. Suite à cet accord, Kinepolis ajoutera 14 cinémas à son portefeuille, représentant 1...

 PRESS RELEASE

Kinepolis sluit overeenkomst tot overname van de activiteiten van de A...

Kinepolis sluit overeenkomst tot overname van de activiteiten van de Amerikaanse bioscoopketen Emagine Entertainment Kinepolis sluit overeenkomst tot overname van de activiteiten van de Amerikaanse bioscoopketen Emagine Entertainment Gereglementeerd bericht - Voorwetenschap 4 november 2025, 7:00 AM CET Kinepolis (Euronext: KIN) heeft een overeenkomst bereikt tot overname van de activiteiten van de Amerikaanse bioscoopketen Emagine Entertainment. Kinepolis verwacht de overname af te ronden tegen het einde van het jaar. Met deze overeenkomst zal Kinepolis 14 bioscopen toevoegen aan haar...

Felix Fischer ... (+5)
  • Felix Fischer
  • Haidje Rustau
  • Jayanth Kandalam
  • Si Yong Ng
  • Tanvi Arora

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: TalkTalk, Adler Pelzer, Borr Drilling, Ontex, Canpack, Bombardier, Azelis, Picard, Air Baltic, Teva

 PRESS RELEASE

Ontex completes the divestment of its Turkish business

Ontex completes the divestment of its Turkish business Aalst, Belgium, November 3, 2025 – Ontex Group NV [EURONEXT: ONTEX], a leading international developer and producer of hygienic products and solutions, announces that it has completed the divestment of its Turkish business to Dilek Grup. The transaction includes Ontex’s business in Türkiye and related exports to certain surrounding countries, marketed through brands like Canbebe, Canped and Prosafe, as well as its plant in Istanbul. Under its new ownership, the former Ontex subsidiary will continue to develop, manufacture, commercial...

 PRESS RELEASE

Ontex rondt de verkoop van zijn Turkse activiteiten af

Ontex rondt de verkoop van zijn Turkse activiteiten af Aalst, België, 3 november 2025 – Ontex Group NV [EURONEXT: ONTEX], een toonaangevende ontwikkelaar en producent van persoonlijke verzorgingsproducten, maakt bekend dat het de verkoop van zijn Turkse activiteiten aan Dilek Grup heeft afgerond. De transactie omvat Ontex’s activiteiten in Turkije en de bijbehorende export naar bepaalde omliggende landen, op de markt gebracht via merken zoals Canbebe, Canped en Prosafe, evenals de fabriek in Istanbul.Onder de nieuwe eigenaar zal de voormalige Ontex-dochteronderneming van voornamelijk merkg...

 PRESS RELEASE

DEME, Aspiravi and Qair realign ownership in ScotWind project

DEME, Aspiravi and Qair realign ownership in ScotWind project DEME announced today that an ownership realignment has taken place among the shareholders in the ScotWind project. As a result, DEME Concessions and Aspiravi International have become joint owners of the Bowdun Offshore Wind Farm. This strategic realignment is designed to streamline operations and leverage the strengths of the partners in their respective areas of expertise. Attachment

 PRESS RELEASE

DEME, Aspiravi en Qair herschikken aandelen in ScotWind-project

DEME, Aspiravi en Qair herschikken aandelen in ScotWind-project DEME maakt vandaag bekend dat er een herschikking van aandelen heeft plaatsgevonden onder de aandeelhouders van het ScotWind-project. Als gevolg hiervan zijn DEME Concessions en Aspiravi International gezamenlijk eigenaars geworden van Bowdun Offshore Wind Farm. Deze strategische herpositionering is bedoeld om de activiteiten te stroomlijnen en optimaal gebruik te maken van de sterktes van de partners binnen hun expertisedomeinen. Bijlage

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

GBL: €1.7bn of GBL Capital assets sold at 9% discount; PostNL: 3Q25 results miss due to more negative mix Parcels; FY25 outlook reiterated but challenging; UCB: Bimzelx's prescription data confusion

Hilde Van Boxstael ... (+6)
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Livio Luyten
  • Michiel Declercq
  • Thibault Leneeuw
  • Wim Lewi
Jacob Mekhael
  • Jacob Mekhael

UCB TRx noise aside, fundamentals remain strong

UCB's Bimzelx is well-positioned with strong 3-year data in HS and competitive performance across PsO, PsA, and axSpA, supporting our peak sales estimate of €5.9b by 2030. Despite premium forward P/E multiples, UCB's projected EPS CAGR (2025–2029), being >3x that of peers, means UCB continues to be an attractive name to own. Earlier in the pipeline, our deep dive into the atopic dermatitis (AD) landscape shows that phase 2a data for galovokimig is promising, with plans to advance to phase 2b. Ac...

Carole Braudeau
  • Carole Braudeau

Credit Morning 10/31/2025

INEOS Quattro: conference call comments|Casino is launching work to adapt its financial structure|Iliad and CK Hutchison are reportedly weighing a potential merger of their Italian operations (Reuters)|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 31/10/2025

INEOS Quattro: conference call comments|Casino va discuter avec ses créanciers en vue de l'adaptation et du renforcement de sa structure financière|Iliad et CK Hutchison envisageraient une éventuelle fusion de leurs activités en Italie (Reuters)|

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