Degroof Petercam on Monday renewed its 'hold' recommendation on Wendel, with a target price of 100 euros, in reaction to rumors surrounding a possible takeover of private equity firm IK Partners.

According to Bloomberg, Wendel has its eye on this company, which operates in Benelux, the DACH region (Germany, Austria, Switzerland), France, the Nordic countries and the UK.

Since its creation in 1989, IK has raised over €14 billion and invested in some 180 European companies.

In its note, Degroof Petercam recalls that IK Partners was valued at around $1.5 billion last year, at the time of its planned IPO.

While it believes that Wendel has the resources to complete such an acquisition following the sale of Constantia Flexibles, the analyst nevertheless feels that this is not a buoyant market segment, as evidenced by the current stock market difficulties of players such as Eurazeo, Tikehau Capital and GBL.

Wendel is known for its investments in companies such as Stahl and Constantia Flexibles, and we believe that the company performs better in this segment," concludes the intermediary.

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