Selected European HoldCos and DLC: October 2025 Report
GBL: asset sales boost liquidity, simplify the portfolio, and fuel buybacks—primed for discount compression. Keep Swedish holdcos as ballast;...
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Recordati: Minority Opposition Puts €51.29 Under Pressure
Minority shareholders are refusing €51.29, but CVC/GBL may not need 90% to delist Recordati. We examine the threshold arithmetic, merger route and...
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Selected European HoldCos and DLC: July 2026 Report
European holding company discounts remain highly dispersed. Vivendi loses its legal catalyst, GBL continues its strategic re-rating, while Nordic...
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Selected European HoldCos and DLC: June 2026 Report
June reinforced a stock-pickers' market for holding companies. GBL and Vivendi remain our preferred ideas, while Nordic investment companies...
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Selected European HoldCos and DLC: May 2026 Report
Holding company discounts are increasingly catalyst-driven. Vivendi remains the key idea at a 43.6% NAV discount, while Porsche SE, GBL and Rio...
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