Orpea: CPPIB acquires 15% of Orpea from Dr Marian, EUR100m capital raise to fund opportunities
BUY, Fair Value Under Review
Orpea yesterday made two
significant announcements: 1/ The sale of 15% of its capital from
Dr Marian to an institutional investor, Canada Pension Plan Investment Board (CPPIB), the Canadian retirement fund. 2/ A capital raising of EUR100m which was subscribed by institutional investors at EUR40.34, a 2.7% discount versus yesterday’s close. Orpea will fund additional opportunities in historic European countries (Belgium...) as well as expansion in other European countries (we believe potentially Germany) and emerging countries such as China.
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