|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||80.00 - 81.28|
|52 Week Range||72.88 - 91.42|
|Beta (3Y Monthly)||0.87|
|PE Ratio (TTM)||18.92|
|Earnings Date||Oct 31, 2019|
|Forward Dividend & Yield||3.07 (3.85%)|
|1y Target Est||95.29|
Moody's Investors Service ("Moody's") has today assigned a B2 corporate family rating (CFR) and B2-PD probability of default rating (PDR) to French TopCo ("Webhelp" or "the company"), the leading player in outsourced customer relationship management services in Europe. Concurrently, Moody's has also assigned a B2 instrument rating to the EUR1.155 billion senior secured Term Loan B due 2026 and a B2 instrument rating to the EUR210 million Senior Secured Revolving Credit Facility due 2026, both to be raised by Marnix SAS, a subsidiary of French TopCo. Proceeds from the issuance of the Term Loan B alongside new equity amounting to EUR1.321 billion in the form of common equity and shareholder loans will be used to (1) fund the acquisition of Webhelp SAS by Groupe Bruxelles Lambert (GBL), the company's founders and the current management team, (2) refinance WoWBidco SAS' existing debt (WoWBidco SAS is the 100% owner of Webhelp SAS), and (3) pay the fees related to this transaction.
GBL and Adidas, whose shares hit record highs on Tuesday, declined to comment. Adidas is in the midst of a share buyback, planning to repurchase 3 billion euros in stock between March 2018 and May 2021, which has gradually pushed up GBL's relative stake. Adidas share price has more than doubled since GBL invested in the company as CEO Kasper Rorsted focused on improving profitability, expanding in North America and China and boosting online sales.
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Albert Frere, a veteran dealmaker whose impeccable business timing made him Belgium's richest man, died on Monday at the age of 92, the firm he built, Groupe Bruxelles Lambert (GBL), said. Frere had stepped down as a director of GBL and GBL's Swiss-based shareholder Pargesa three years ago, though he remained one of the controlling shareholders of the group run since 2012 by his son-in-law, Ian Gallienne, who is co-CEO. Frere attained international prominence in the early 1980s, helping divest some of nationalised French bank Paribas' foreign assets and setting up Pargesa with Canadian businessman Paul Desmarais, who died in 2013.
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