Maisons du Monde: Jumps as Kretinsky, Naouri's fund doubles stake

Maisons du Monde SA

04/03/2021 09:01

** Shares in Maisons du Monde (MdM)  MDM.PA  jump 7% after
Majorelle Investments said it had doubled its stake in the
French furniture and home decor company, reaching a 10%
threshold
    ** Majorelle Investments is an investment fund created in by
Gabriel Naouri, son of Casino's chief executive, as well as
Daniel Kretinsky, known for its entry into Casino's capital in
2019
     ** Bryan Garnier says such strengthening in MdM "may not be
a coincidence" as Kretinsky is reducing its stake in Casino
 CASP.PA     
    ** "The speculative appeal of MdM may be revigorated," the
brokerage adds, pointing to its earlier expectation for M&A
speculation to return in the sector in 2021  urn:newsml:reuters.com:*:nL8N2JQ1TX
    ** Bryan Garnier notes MdM's shares price has partially
rebounded, while the post-COVID visibility is now higher
    ** Majorelle Investments may now request the appointment of
one or more members to MdM's board of directors, the fund said
in a statement https://www.majorelleinvestments.com/press-releases/majorelle-investments-stake-in-maisons-du-monde-epamdm-doubles-to-reach-10

 ((juliette.portala@thomsonreuters.com))