VIVHY - Bollore's Shares Are Cheap But Value Still Mostly Rests On Unwinding Complex Structure

Bollore (OTCPK:BOIVF) is a French holding company founded in 1822 and headquartered in Paris. Its predecessor company, Papeteries d'Odet, owned a paper mill along the Odet River in Brittany that supplied specialty papers used in bibles and as rolling paper for tobacco. The business was lost by the Bollore family in the 1970s to investment bank Edmund de Rothschild but it was sold back to Vincent Bollore in 1981, who restructured the business and then started making acquisitions and transforming the business into a conglomerate.

Source: Company website.

The opportunity in Bollore's