Q1 2020 Eurazeo SE Corporate Sales Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Mourad Lahmidi - Exane BNP Paribas, Research Division - Analyst : [Interpreted] Yes. Mourad Lahmidi, Exane. I have 3 questions. So first, I think you mentioned valuation of Eurazeo Growth for the first semester of EUR 750 million. At the end of the year, it was EUR 687 million, if I believe. And so there's an evolution, which comes mostly from injections of -- from -- on the part of Eurazeo. And so that's my first question -- and or value creation. Now second question. On the calculation method of an NAV, so the 12 months preceding, that we apply a factor of 5.2, I believe. And so in terms of the market situation, this is cautious. But here, we would end up overevaluating. But you mentioned a methodology change. So are you going to put yourselves on forwards or for risk? Is that right? And third question is on Idinvest. How do you value the minority stakes of Idinvest in the development ratio or in the other liabilities under NAV?

Question: Christoph Greulich - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Yes. There are two from my side, please. So firstly, you announced at the end of last week -- last year, sorry, a strategic review of your Europcar stake. So I was just wondering if this is finalized now or if the review is still progressing. And secondly, yes, can you share any fundraising targets for the full year of 2020?