497 company-owned retail sta ons & related assets being sold for ~$2.8 billion. In February IMO announced the sale of aviation fuels business for US$135 mm. Combined proceeds are well above our prior $1.0+ billion guess. We have reduced our 2017e+ adjusted EBITDA estimates by ~$250 mm/year, assuming a ~10x EBITDA metric, partially offset by increased brand fees & other revenues. Target price increased $2.00/share to $35.00/share to account for the transaction’s accre on. Underperform ranking mai ....
09 Mar 2016
Imperial Selling owned Retail Sites for $2.8 billion
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Imperial Selling owned Retail Sites for $2.8 billion
Imperial Oil Limited (IMO:TSE) | 0 0 (-1.4%) | Mkt Cap: 28,420m
- Published:
09 Mar 2016 -
Author:
Michael P. Dunn -
Pages:
5
497 company-owned retail sta ons & related assets being sold for ~$2.8 billion. In February IMO announced the sale of aviation fuels business for US$135 mm. Combined proceeds are well above our prior $1.0+ billion guess. We have reduced our 2017e+ adjusted EBITDA estimates by ~$250 mm/year, assuming a ~10x EBITDA metric, partially offset by increased brand fees & other revenues. Target price increased $2.00/share to $35.00/share to account for the transaction’s accre on. Underperform ranking mai ....