Suez Environnement's implied enterprise value is seen at 6.8x 08 estimated Ebitda, says Citigroup. Notes that Veolia Environnement's is at 8x. "We would expect Suez Environnement's valuation to improve as we get more visibility on the business with the issuance of the spin-off prospectus," says the bank.
Suez (SZEZY) will spin off it's environment unit as part of its planned merger with Gaz de France (1020848.FR). Shares -1% at EUR44.753. (AMI)