MNI China Press Digest March 11: Housing, Car Prices, Railway

MNI: PBOC Net Drains CNY0.5 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1741 Tues; -1.02% Y/Y

MNI: US Feb Inflation Expectations Uncertainty Rises - NY Fed

MNI INTERVIEW: Hainan Green FTZ to Attract EU Investors - NPC

MNI China Daily Summary: Monday, March 10

MNI: UK BRC FEB BY VALUE SHOP SALES LFL +0.9% YY, TOTAL +1.1% YY

MNI JAPAN Q4 GDP ??REV +0.6% Q/Q; PRELIM +0.7%; MEDIAN +0.7%

MNI JAPAN JAN HOUSEHOLD SPENDING +0.8% Y/Y; DEC +2.7%

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CREDIT UPDATE: Bureau Veritas (BVIFP: A3): Strategy

CREDIT UPDATE
Credit BulletsCEEMEAEurozoneFranceBullet
  • BVI said that they still believe in industry consolidation. What options does it have ?
  • The global industry TAM is $233bn in 2024 but with no dominant players.
  • BVI describe the market as being 40% accessible - I.e. Non-Governmental
  • Listed Companies: Intertek EV £9bn; UL Solutions EV $11bn; Mistras EV $500m; Eurofins EV €13.5bn; SGS EV CHF 20bn
  • Socotec is privately owned with Revenues of €1.5bn
  • Applus+ was taken private in Nov '24 for €2.5bn. There was a bidding war between Apollo and Amber.
  • TUV and Dekra are owned by trade bodies reflecting the quasi-governmental role of the testing/inspection industry
  • Bolt-On acquisitions tend to be the norm in this space, look at how Eurofins has grown, but the BVIFP seems to have appetite to do something more meaningful.
121 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • BVI said that they still believe in industry consolidation. What options does it have ?
  • The global industry TAM is $233bn in 2024 but with no dominant players.
  • BVI describe the market as being 40% accessible - I.e. Non-Governmental
  • Listed Companies: Intertek EV £9bn; UL Solutions EV $11bn; Mistras EV $500m; Eurofins EV €13.5bn; SGS EV CHF 20bn
  • Socotec is privately owned with Revenues of €1.5bn
  • Applus+ was taken private in Nov '24 for €2.5bn. There was a bidding war between Apollo and Amber.
  • TUV and Dekra are owned by trade bodies reflecting the quasi-governmental role of the testing/inspection industry
  • Bolt-On acquisitions tend to be the norm in this space, look at how Eurofins has grown, but the BVIFP seems to have appetite to do something more meaningful.