Selected European Holdcos and DLCs: February Report
Discounts to NAV for European holdcos and DLCs have generally widened in February. The report incorporates some results, as well as several SOTPs.
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Selected European Holdcos and DLCs: January Report
Discounts to NAV for our selected European holdcos have widened in January, in line with equity markets drifting lower. General recommendation:...
402 Views
Selected European Holdcos and DLCs: December Report
Interesting long/short situations are: premium of BHP AU vs. BLT LN is 24.6% , HEIO NA relative HEIA NA, 15.5% discount, Investor (13.5% discount...
435 Views
Vedanta Vaulting Near 2020 Highs On Higher Commods, Higher Forecasts, But Open Offer Remote?
Vedanta Ltd is up 55+% in eight weeks since the failed RBB. EBIT forecasts are up just as much, and a Peer Basket is now >40%ytd. An Open Offer...
426 Views
Selected European Holdcos and DLCs: November Report
Holding companies have reduced their discount to NAV during November. Kinnevik is trading at a premium to NAV. Interesting trades are GBL, and in...
308 Views