Eiffage said that he did not negotiate with Sacyr Vallehermoso
Eiffage said that he did not negotiate with Sacyr Vallehermoso
Eiffage does not always negotiates with the Spanish Sacyr Vallehermoso under the legal conflict between them and rejects the solutions mentioned by the Spanish group, reported that its CEO Jean-Francois Roverato.
Eiffage does not always negotiates with the Spanish Sacyr Vallehermoso under the legal conflict between them and rejects the solutions mentioned by the Spanish group, reported that its CEO Jean-Francois Roverato.
He also indicated that a chief operating officer would be appointed to Eiffage "by the summer". Benedict Heitz had resigned in early December 2007 from his position as general manager.
"We were invited to the Elysée Palace on January 14 in the morning and Mr. del Rivero (Sacyr president) has put forward a number of ideas that were not consistent with the decision of the MFA. Je n ' I could not give my approval to ideas that were inconsistent with the position that we defend in the courts, "said Jean-Francois Roverato at a conference on the results of 2007.
In June, the Financial Markets Authority (AMF) had invalidated a public offer of exchange on Sacyr Eiffage, in the belief that the group had acted in concert with other shareholders Spanish, and demanded the release of a new bid Eiffage on, partly in cash at a price of 127.29 euros.
Luis del Rivero has proposed including the repurchase of a portion of Eiffage shares at a price lower than 127.29 euros, the sale of securities "at a high price", or the takeover of APRR, said Jean-Francois Roverato.
"Eiffage serenely awaiting court decisions and does not negotiate with Sacyr," he added.
The Paris Court of Appeal will decide on April 2 at the request of Sacyr this decision by the AMF. The Commercial Court of Nanterre must then make its decision on May 6 Sacyr's request to cancel the general shareholders french group of 18 April 2007.
THE No. 2 COULD COME FROM OUTSIDE
According to Les Echos, February 7, the Caisse des Depots (8.5% of Eiffage) and CNP insurers, Axa and AGF would consider a resumption of participation in Sacyr Eiffage at a price close to the current stock-market price. "I have observed that nobody nothing wrong," said Jean-Francois Roverato.
Eiffage also appoint a director operational before the summer and its board of directors will determine in April that it will propose the dividend for 2007 at the general meeting on June 25.
Referring to the future of No. 2 Eiffage, Jean-Francois Roverato felt perfectly "imaginable and inconceivable" he comes da Vinci and Bouygues, indicating that a "half dozen" candidates were in the running.
"If the successful candidate has knowledge of the profession, my role will diminish quickly. If this did not happen, that would take a little more time," he added.
Jean-Francois Roverato has also suggested that the conflict with Sacyr could compel Eiffage to think twice before embarking on operations of external growth.
Asked about a possible interest in Cegelec, he said: "If Cegelec comes on the market, we will see what should be done, especially if it was after resolving our legal issues. Strategically, of course, we we are interested in developing in the areas of installing and maintaining multi-techniques. "
NO INTEREST FOR ADP
"An important move towards concentration in Eiffage could open the field to a questioning of the mandatory bid. This is an issue that we must look carefully," said Jean-Francois Roverato.
The CEO of Group B-TP also stated qu'Eiffage did not wish to purchase securities ADP.
In terms of outlook, the group believes that 2008 will be "a year of low activity in public works," but that 2009 will mark a return to "a stronger". It targets a total turnover of 13 billion euros in 2008 (excluding acquisitions), the year for which it expects "a return to a normal level of achievement" for its subsidiary metal construction Eiffel, impacted by provisions' last year.
"We are confident in maintaining margins in our backlog, ie in 2008. For now, we still do not see a tragedy on the horizon, even though the situation of the property is cup" also said Jean-Francois Roverato.
In exchange, Eiffage fall of nearly 6% Friday on the stock market after the publication of 2007 results and 2008 outlook considered disappointing, prompting some analysts to revise down their opinions on the title.
Around 12:30, the action loses 5.94% to 56.20 euros, while its European sector index fell by 1.32%.
Eiffage does not always negotiates with the Spanish Sacyr Vallehermoso under the legal conflict between them and rejects the solutions mentioned by the Spanish group, reported that its CEO Jean-Francois Roverato.
Eiffage does not always negotiates with the Spanish Sacyr Vallehermoso under the legal conflict between them and rejects the solutions mentioned by the Spanish group, reported that its CEO Jean-Francois Roverato.
He also indicated that a chief operating officer would be appointed to Eiffage "by the summer". Benedict Heitz had resigned in early December 2007 from his position as general manager.
"We were invited to the Elysée Palace on January 14 in the morning and Mr. del Rivero (Sacyr president) has put forward a number of ideas that were not consistent with the decision of the MFA. Je n ' I could not give my approval to ideas that were inconsistent with the position that we defend in the courts, "said Jean-Francois Roverato at a conference on the results of 2007.
In June, the Financial Markets Authority (AMF) had invalidated a public offer of exchange on Sacyr Eiffage, in the belief that the group had acted in concert with other shareholders Spanish, and demanded the release of a new bid Eiffage on, partly in cash at a price of 127.29 euros.
Luis del Rivero has proposed including the repurchase of a portion of Eiffage shares at a price lower than 127.29 euros, the sale of securities "at a high price", or the takeover of APRR, said Jean-Francois Roverato.
"Eiffage serenely awaiting court decisions and does not negotiate with Sacyr," he added.
The Paris Court of Appeal will decide on April 2 at the request of Sacyr this decision by the AMF. The Commercial Court of Nanterre must then make its decision on May 6 Sacyr's request to cancel the general shareholders french group of 18 April 2007.
THE No. 2 COULD COME FROM OUTSIDE
According to Les Echos, February 7, the Caisse des Depots (8.5% of Eiffage) and CNP insurers, Axa and AGF would consider a resumption of participation in Sacyr Eiffage at a price close to the current stock-market price. "I have observed that nobody nothing wrong," said Jean-Francois Roverato.
Eiffage also appoint a director operational before the summer and its board of directors will determine in April that it will propose the dividend for 2007 at the general meeting on June 25.
Referring to the future of No. 2 Eiffage, Jean-Francois Roverato felt perfectly "imaginable and inconceivable" he comes da Vinci and Bouygues, indicating that a "half dozen" candidates were in the running.
"If the successful candidate has knowledge of the profession, my role will diminish quickly. If this did not happen, that would take a little more time," he added.
Jean-Francois Roverato has also suggested that the conflict with Sacyr could compel Eiffage to think twice before embarking on operations of external growth.
Asked about a possible interest in Cegelec, he said: "If Cegelec comes on the market, we will see what should be done, especially if it was after resolving our legal issues. Strategically, of course, we we are interested in developing in the areas of installing and maintaining multi-techniques. "
NO INTEREST FOR ADP
"An important move towards concentration in Eiffage could open the field to a questioning of the mandatory bid. This is an issue that we must look carefully," said Jean-Francois Roverato.
The CEO of Group B-TP also stated qu'Eiffage did not wish to purchase securities ADP.
In terms of outlook, the group believes that 2008 will be "a year of low activity in public works," but that 2009 will mark a return to "a stronger". It targets a total turnover of 13 billion euros in 2008 (excluding acquisitions), the year for which it expects "a return to a normal level of achievement" for its subsidiary metal construction Eiffel, impacted by provisions' last year.
"We are confident in maintaining margins in our backlog, ie in 2008. For now, we still do not see a tragedy on the horizon, even though the situation of the property is cup" also said Jean-Francois Roverato.
In exchange, Eiffage fall of nearly 6% Friday on the stock market after the publication of 2007 results and 2008 outlook considered disappointing, prompting some analysts to revise down their opinions on the title.
Around 12:30, the action loses 5.94% to 56.20 euros, while its European sector index fell by 1.32%.
posted by news of france at
11:45 AM
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