The new shares issued by Elior represent <0.3% of the equity. Although it will be a relief to the company that it can

A share buyback of up to €252m over the next 18 months is an eye-catching headline, but we expect the actual buyback outlay will be much smaller and back-ended. The buyback authorisation figure is sized on 10% of outstanding shares at €10 per share, bu

Elior continues to rely on its banks for liquidity as it tries to rebuild margins. Anything that pushes away pricing concerns is to be welcomed. The

Although the price paid has not been made public, the US acquisition is small. The business provides meals to 14,000 private school pupils in

Boris Derichebourg was already the COO of Elior France, so his appointment as the Chair and CEO of the French business is not surprising. Our modelling shows

Elior shareholders have approved the stock-funded acquisition of DMS. This vote

The European Commission has approved the DMS transaction. This was largely expected. The main outstanding hurdle is

Ahead of the Elior shareholder vote on April 18th to approve the DMS acquisition, Elior this morning published the meeting agenda/resolutions, along with

Quantum and timing of Elior's EBITDA recovery remain highly uncertain. And while the pending DMS contribution will be moderately deleveraging, we still see value cushion under