Eurazeo Swings To 1st Half Net Loss EUR120.9 Million Vs Profit EUR243.1 Million
August 28 2009 - 1:48AM
Dow Jones News
French investment house Eurazeo (RF.FR) Friday said it swung to
a net loss in the first half of the year, weighed by the absence of
capital gains, the loss of value in investment properties and the
decline of results of its equity affiliates Rexel (RXL.FR) and
Accor (AC.FR).
Eurazeo booked a net loss of EUR120.9 million in the first half
versus a net profit of EUR243.1 million in the first six months of
2008.
"With our cash, the balance of available Danone (BN.FR) shares
and the commitments of Eurazeo Partners, and our fully available
line of credit, we are confident of our ability to support the
development of the Group's companies, if needed, and to make new
investments," Eurazeo said.
Eurazeo said it welcomed the French hotel group Accor's decision
to consider separating its services and hotels businesses.
Eurazeo said its net asset value stood at EUR52.9 a share as of
Aug. 27, versus EUR47.8 at the end of June. At the end of 2008, net
asset value stood at EUR53.4 a share.
Company Web site: www.eurazeo.com
-By William Horobin, Dow Jones Newswires; +33 1 4017 1740;
william.horobin@dowjones.com
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