FFP has repurchased 336 483 shares for an amount of 29.2 M, with an average price of 89,35 per share.
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This operation has been carried out in the framework of the program of redemption of shares of the company, approved by the General Meeting of may 3, 2016. The shares not used will be canceled. Robert Peugeot said : “The development of FFP continues and is accelerating since the beginning of the year with the merger transactions provided for Opel-Vauxhall with the PSA group and Zodiac Aerospace with Saffron, the transfer of shares held by FFP in Sanef and Onet, as well as new investments in AmaWaterways and Lineage, two growth companies exposed to the u.s. economy.
The stock market valuation of major listed participations of FFP is up in 2017, with significant increases for Peugeot SA, DKSH, SEB, LISI, and Orpéa, outperforming largely in the stock markets.
The financial position of FFP is healthy. It has more than 700 M credit lines available, of which about 200 Million euros are used to date.
The company has repurchased its own shares, considering that the rise in the stock of 25 % since the beginning of the year reflects insufficiently the performance of its assets. ”
About FFP :
FFP is an investment company listed on Euronext, majority-owned by Etablissements Peugeot Frères and managed by Robert Peugeot. The group FFP is one of the main shareholders of Peugeot SA and pursues a policy of minority investments and long-term. The group FFP holds participations in listed companies (LISI, Zodiac Aerospace, SEB, DKSH or ORPEA), non-listed companies (IHS, or Eren Renewable Energy) and in private equity funds.
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