Wendel investment now has a treasure of war of 1

Wendel investment wants to continue its March forward. Five years after having initiated successfully the metamorphosis of the family holding company of Wendel in an "efficient investment company", Jean-Bernard Lafonta, Chairman of its Board of Directors, wants to give a new impetus. Today featuring a portfolio of investments whose dynamism has still been highlighted yesterday in a presentation to investors, the company intends to provide the means to pursue its impressive route.

On the stock exchange, title Wendel investment increased by 244 in five years. It is the third largest of the large investment companies listed in Europe. The value also finished up 1.33 yesterday at the close of the Centre of Paris, to 114,20 euros, after an increase of 0.71 the day before.

Specifically, by 2012, Jean-Bernard Lafonta has double the revalued net assets of the holding company which has registered an increase of 38 over the last twelve months, at 107 euros per share while increasing its dividend by 15 each year. In order to achieve these new objectives, it proposes to invest 3 billion euros by 2012 against EUR 2.2 billion between 2001 and 2006 on targets with a value of more than EUR 1 billion business. It is also considering to 2 billion euros in additional investment to expand the companies in the portfolio, against EUR 1.2 billion over five years.

A change of scale that requires such a broadening of the scope of the holding company. Wendel investment now has a treasure of war of 1.7 billion. "If we want to find quality investments, should expand the spectrum of what we watch, he explained yesterday. Outside France but also in US interest in listed companies if we see attractive opportunities and we can play a key role in the long term.

Rumors of Bureau Veritas

In clear, Wendel should multiply the type operations Deutsch, elective Franco-American connectors group for the month of April for $ 1 billion. It could also, according to some analysts, focus closely on some minority catch involvement but control in rated groups. Jean-Bernard Lafonta also reaffirmed Monday in the columns of "The Forum" his interest in the Suez Environment pole if he had to be transferred. He also indicated yesterday that FNAC merit that it is interested in the hypothesis where it would be for sale by PPR. Conversely, the pattern of Wendel twisted neck recent rumors that its subsidiary Bureau Veritas have begun discussions with Swiss rival SMS for a takeover.

It is true that the main involvement of the holding company (approximately 40 of its revalued net assets) has still sensitive lines of progression. By combining external growth for EUR 200 million in 2005 and 50 million in 2006 and internally, the French group of technical inspection should ensure a growth in its turnover and of its Ebita of the order of 10 on the year. It comes in addition to file a bid on his German counterpart Germanischer Lloyd for a sum estimated around 500 million euros by analysts. "We expect a response from here at end of 2006," said Franck Piedelièvre, Director General of Bureau Veritas, which made no secret of the prevention of management of the target.