Merger of BR Malls and Aliansce Sonae should not be completed this year, says Bradesco BBI

Merger of BR Malls and Aliansce Sonae should not be completed this year, says Bradesco BBI

The bank has a neutral recommendation for the shares of BR Malls

BR Malls board approved the retention package of up to BRL 50 million in the merger with Aliansce Sonae, which makes sense to minimize operational risks during the transition, as the deal is not expected to close before the end of 2022 , due to the regular antitrust process, says Bradesco BBI, in a report.

“Any possible discussion about the amount to be paid should not be an impediment to the approval of the merger, but it is fair that BR Malls shareholders demand additional disclosure about the use of these resources, as the amount is relevant”, write analysts Bruno Mendonça and Pedro Lobato.

They point out that the package is aimed at workers and company managers, with a maximum of R$ 15 million for statutory directors, according to BR Malls.

Bradesco BBI has a neutral recommendation for the shares of BR Malls, with a target price of R$11, a potential increase of 35% compared to the value currently traded on B3. The bank has a buy recommendation for Aliansce Sonae’s shares, with a target price of R$36, up by 98%.

Source: Valor Investe

Related post

Merger in fintechs: Liber, from receivables anticipation, joins Bava and brings Serfaty as CEO

Merger in fintechs: Liber, from receivables anticipation, joins Bava…

Fintechs operate a marketplace with resource providers to anticipate receivables to companies in search of cash. New company will be commanded…
A brand new big in aviation providers is born after the merger of Menzies Aviation and NAS

A brand new big in aviation providers is born…

Following the confirmation last week of Agility’s purchase of Menzies Aviation in a GBP 763 million (~USD 932 million) transaction, both…
Authorities proposes a minimal wage of R$ 1,294, with out actual enhance for the 4th 12 months

Authorities proposes a minimal wage of R$ 1,294, with…

The government of Jair Bolsonaro (PL) on Tuesday (9) sanctioned the LDO (Lei de Diretrizes Orçamentárias), which provides for a minimum…

Leave a Reply

Your email address will not be published.