Associated British Foods: Proposed Primark Spin-Off May Unlock Value For Shareholders [Seeking Alpha]
ASSOCIATED BRI/F UNSP/ADR (ASBFY)
NASDAQ:AMEX Investor Relations:
abf.co.uk/investorrelations
Company Research
Source: Seeking Alpha
Management are now seriously considering a spin-off of Primark, which seems very likely to unlock value for shareholders. Primark has a strong competitive position, significant scale ($12.8 billion in revenue) and is rapidly expanding into the United States. Overall, ASBFY seems undervalued in consideration of the quality of the enterprise, conservative balance sheet, and high-quality management, and even more so in consideration of the potential spin-off. qizai00/iStock Editorial via Getty Images Investment Thesis Associated British Foods ( ASBFY ) is a high-quality business with good margins and a strong balance sheet. However, its conglomerate structure does obscure some value by combining the relatively more profitable clothing retail business This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this
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News
- Associated British Foods (OTCMKTS:ASBFY) was downgraded by analysts at The Goldman Sachs Group, Inc. from a "hold" rating to a "strong sell" rating.MarketBeat
- Associated British Foods (OTCMKTS:ASBFY) was downgraded by analysts at Sanford C. Bernstein from a "strong-buy" rating to a "hold" rating.MarketBeat
- Associated British Foods Fast-Tracks Update as Primark Falters, Cuts FY Profit and EPS View [Yahoo! Finance]Yahoo! Finance
- UK retailers grappling with cost pressures, says analyst [CNBC]CNBC
- ABF, Hovis ask UK regulator to fast-track takeover review [Yahoo! Finance]Yahoo! Finance