Vivion - comment

If the Dayan family execute the 15% sale of Vivion for €375m, it implies an equity valuation of €2.5bn on the business; the impact for creditors will be minimal as the funds flow straight to the Dayan family, and the equity is unlikely to be traded. The reports do not identify the investors, but several Private Offices and funds are said to be involved. We estimate the premium to EV at under 5% (€4bn of property + €0.4bn cash - €2bn of debt => equity value of €2.4bn). Additionally, the purchasers will also have an option to increase their stake to 25% for an additional €150m.

https://www.calcalist.co.il/market/article/b17kadalc (Hebrew)

https://www.estateagenttoday.co.uk/article/2022/09/amir-dayans-vivion-valuated-at-2-5b-euros/