(Boursier.com) — Solvay camped below 90 euros on Tuesday, as Deutsche Bank adjusted its target price to 120 euros, against 135 euros previously, while the group announced that it was considering the possibility of separating into two independent entities listed on the stock exchange : EssentialCo would include mono-technology activities such as Soda Ash, Peroxides, Silica and Coatis, which are currently grouped in the Chemicals segment, as well as the Special Chem activity. Together, these activities achieved net sales of around €4.1 billion in 2021.
SpecialtyCo would include businesses currently grouped in the Materials segment, including the high-growth, high-margin polymers business of Specialty Polymers, the high-performing business of Composite Materials, as well as most of the businesses in the Solutions segment, including Novecare, Technology Solutions , Aroma Performance as well as Oil & Gas. These activities generated net sales of approximately €6 billion in 2021.
“The proposed separation into two leaders is a pivotal moment in our journey of transformation and simplification of Solvay”, explained Ilham Kadri, CEO of Solvay. Jefferies, for its part, adjusted its target price from 115 to 103 euros with a notice to ‘keep’ on file.
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