Hints and tips:
...We upgrade EXHO to Buy (from Neutral) and downgrade Elior to Neutral (from Buy). We also upgrade RTN to Buy....
...Elior was founded in 1991 by Francis Markus and Robert Zolade. Mr Zolade still owns 25 per cent of the company....
...CVC Capital Partners and BC Partners have teamed up to launch a buyout of Elior, underlining how confidence is returning to Europe’s private equity sector.”...
...This week, the FT provided more evidence of this resurgence by revealing that a UK-based private equity consortium is preparing a €3.5bn bid for French catering group Elior, which would be continental Europe...
...Charterhouse is also eyeing a break-up for Elior, the French catering company it took private in 2006, now valued at about €4bn. The €2bn sale of a catering unit could start in March....
...This mirrors a similar shortage of bidders in Elior, a French caterer that Charterhouse took private in 2006, for which there only appears to be one interested party, according to people with knowledge of...
...In a further test this year, it is expected that a UK-based private equity consortium will make a €3.5bn bid for French catering group Elior, which would be continental Europe’s biggest post-Lehman Brothers...
...Waterstone’s also has about 70 cafés operated by Elior in its stores, and it is putting a small number of larger cafés in some of its stores....
...The IT director of European catering firm Elior Alastair Fuller changed the staff on his IT team in a bid to improve the business: “The sector we work in is changing so the IT needed to change,” he says....
...He also noted that two of Rentokil’s closest competitors, PHS and ISS, had been taken private in recent years, while Aramark and Elior were currently involved in management buyouts....
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