Sodexo negotiates with CVC the opening of the capital of the tickets-restaurants-Les Echos division | Photo credits: Sodexo Group Media Library / Grégoire KORGANOW
(Updated with no comment from Sodexo and CVC)
PARIS, April 25 (Reuters) – The collective catering group Sodexo is in negotiations with the CVC fund with a view to opening up the capital of its restaurant ticket division, the newspaper Les Echos reported on Monday.
The daily adds that Sodexo is negotiating the potential sale of 20% to 30% of the capital of its “Benefits and Rewards” division.
Sodexo values the entire division at an amount of up to four billion euros, according to the daily, which cites several sources.
On the Paris Stock Exchange, Sodexo shares rose 0.6% against a decline of 1.9% for the CAC 40 at 5:15 p.m.
Neither Sodexo nor the CVC fund wished to comment on this information.
At the beginning of April, the group revised downwards its revenue growth forecasts for this year due in particular to the coronavirus pandemic and the context of the conflict in Ukraine.
Sodexo estimated the loss of revenue related to the termination of contracts at 40 million euros. (Written by Matthieu Protard and Claude Chendjou, with Tassilo Hummel, edited by Marc Angrand and Jean-Michel Bélot)