Cerved reaches a 1.8 bn euros market cap, in line with a potential bid by Advent International. The group is valued up to 2.3 bn euro or 11x ebitda

Il titolo Cerved a Piazza Affari Cerved Group has now a 1.8 billion euros market cap at the Italian Stock Exchange after yesterday's close at 9.525 euros per share, slightly higher (+ 1.33%) the closing of Wednesday 6 March, when the stok jumped by more than 10% closing at 9.4 euro per share. To push the prices  so high was the news released by Reuters that  US private equity firm Advent International is evaluating an 1.8 billion euros equity value bid for the Italian group specializing in credit risk analysis and credit management, which would then be evaluated over € 2.3 billion, including debt. Rumors about the interest of a large investor in delisting Cerved have been recurring for weeks and in fact the stock had gradually gained ground from the lows at the beginning of December, when the prices were around 6.5 euros per share, at the lows of February 2016. Guided by the ceo Gianandrea De Bernardis, the group ended 2018 with consolidated revenues (see here the press release and here the analysts' presentation) up 16.1% to 458.1 million euros from 394.4 millions in 2017, above all thanks to the contribution of the Credit Management division which alone grew by 58.2% to 149.3 millions, partly due to organic growth of the business, but partly thanks to the industrial partnerships for the management of non-performing loans with Banca Popolare di Bari (see here a previous post by BeBeez) and Banca Montepaschi (see here a previous post by BeBeez). As f[...]

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