Suez: 2016 EPS up 2.5% following the deal on SembsitaBUY, Fair Value EUR19 (+17%)
We now fully integrate into our model the purchase of Sembsita’s 40% minorities from Sembcorp which positively impacts our 2016 EPS by 2.5%. This deal will allow the group to control fully its Australian waste business and to create synergies with its water business (already owned at 100%). Newsflow on Suez is now set to be poorer in the short term, but we stick to our Buy rating with the FV unchanged at EUR19.
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