We have learned that Evangelos Mytilineos, responding to demands from international investors, is promoting a new management structure at Metlen and will announce, within 1.5 months, a new CEO and executive team that will initially take on transitional responsibilities and subsequently assume full management of the company.
Today, we focus on Metlen and DEI (PPC), two highly significant and index-heavy companies on the Greek Stock Exchange.
Metlen announces new management structure with surprise appointments
Metlen, which achieved great success upon its FTSE 100 listing, is currently valued at €48 per share, giving it a market capitalization of €6.85 billion.
The company is listed on the FTSE 100 among the 100 largest companies in London, ranked 68th by market value
We understand that Evangelos Mytilineos, who has no succession plan within the family, is moving forward with a new management structure following requests from international investors. Within 1.5 months, he is expected to announce a new CEO and management team that will initially manage Metlen on a transitional basis before assuming full operational control.
Sources also indicate that a surprise appointment will be part of the new team.
Pressure for capital increase at DEI; CVC considers sale of 10.34% stake
DEI currently has a market capitalization of €5.43 billion. While CEO Stassis’ leadership has achieved significant progress in a short time, the initial increase in debt raised concerns, making it clear that additional capital is needed for investments.
DEI’s immediate plans include issuing a €500 million bond to fund investment projects.
However, some stakeholders are pushing DEI to pursue a €1 billion capital increase. The management, on the other hand, believes such an increase is not necessary.
Meanwhile, some foreign investment firms have recommended a capital increase.
CVC, through Selath Holding, holds a 10.34% stake in DEI, currently valued at €561 million.
1. The fund has abandoned plans to increase its stake in DEI.
2. It is considering either holding the 10.34% stake until it can sell or divesting within the next few months.
The U.S. fund CVC is currently in a divestment phase.
Important note
If all these plans for DEI are implemented, its market capitalization could rise from €5.4 billion to around €7 billion within 12 to 18 months, implying a share price of €18.5–19, up from €14.60 today.
www.bankingnews.gr
Metlen announces new management structure with surprise appointments
Metlen, which achieved great success upon its FTSE 100 listing, is currently valued at €48 per share, giving it a market capitalization of €6.85 billion.
The company is listed on the FTSE 100 among the 100 largest companies in London, ranked 68th by market value
We understand that Evangelos Mytilineos, who has no succession plan within the family, is moving forward with a new management structure following requests from international investors. Within 1.5 months, he is expected to announce a new CEO and management team that will initially manage Metlen on a transitional basis before assuming full operational control.
Sources also indicate that a surprise appointment will be part of the new team.
Pressure for capital increase at DEI; CVC considers sale of 10.34% stake
DEI currently has a market capitalization of €5.43 billion. While CEO Stassis’ leadership has achieved significant progress in a short time, the initial increase in debt raised concerns, making it clear that additional capital is needed for investments.
DEI’s immediate plans include issuing a €500 million bond to fund investment projects.
However, some stakeholders are pushing DEI to pursue a €1 billion capital increase. The management, on the other hand, believes such an increase is not necessary.
Meanwhile, some foreign investment firms have recommended a capital increase.
CVC, through Selath Holding, holds a 10.34% stake in DEI, currently valued at €561 million.
1. The fund has abandoned plans to increase its stake in DEI.
2. It is considering either holding the 10.34% stake until it can sell or divesting within the next few months.
The U.S. fund CVC is currently in a divestment phase.
Important note
If all these plans for DEI are implemented, its market capitalization could rise from €5.4 billion to around €7 billion within 12 to 18 months, implying a share price of €18.5–19, up from €14.60 today.
www.bankingnews.gr
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