In today’s briefing:
- Weekly Deals Digest (26 May) – Henlius, HKTV, SciClone, KFC, Best World, PropertyGuru, Modec
- (Mostly) Asia-Pac M&A: KFC Holdings Japan, Shanghai Henlius, Alumina, BHP/ Anglo American, SciClone
- Enterprise Products Partners L.P.: A Versatile Hub In Hydrocarbon Distribution With Strategic Market Footholds! – Major Drivers
- MPLX LP: A Tale Of Financial Discipline and Organic Growth! – Major Drivers
- Petróleo Brasileiro S.A. – Petrobras: These Are The 6 Pivotal Factors Impacting Their Performance In 2024 & Beyond! – Financial Forecasts
Weekly Deals Digest (26 May) – Henlius, HKTV, SciClone, KFC, Best World, PropertyGuru, Modec
- A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
- ECM developments: Modec Inc (6269 JP) prices its US$535 million secondary offering.
- Event-Driven developments: Shanghai Henlius Biotech (2696 HK), Hong Kong Television Network (1137 HK). Sciclone Pharmaceuticals (6600 HK), Kfc Holdings Japan (9873 JP), Best World International (BEST SP), PropertyGuru (PGRU US).
(Mostly) Asia-Pac M&A: KFC Holdings Japan, Shanghai Henlius, Alumina, BHP/ Anglo American, SciClone
- I tally 51 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
- One new deal was discussed on Smartkarma this week: Carlyle’s tiult for KFC Holdings Japan (9873 JP). Shanghai Henlius Biotech (2696 HK) suspended pursuant to the Takeovers Code.
- Key updates took place on: Alumina Ltd (AWC AU), L’Occitane (973 HK), BHP Group Ltd (BHP AU)/ Anglo American (AAL LN), and SciClone Pharmaceuticals (6600 HK).
Enterprise Products Partners L.P.: A Versatile Hub In Hydrocarbon Distribution With Strategic Market Footholds! – Major Drivers
- Enterprise Products Partners L.P., based on its first quarter 2024 earnings, seems to have continued its consistent delivery, with a 7% increase in gross operating margin compared to the first quarter of last year.
- This growth was primarily driven by contributions from new assets and a 17% increase in net marine terminal volumes.
- Positive developments within the company include the expansion of their Permian natural gas processing infrastructure and the start of their Leonidas plant in the Midland Basin and Mentone 3 plant in the Delaware Basin.
MPLX LP: A Tale Of Financial Discipline and Organic Growth! – Major Drivers
- MPLX reported year-over-year growth in adjusted EBITDA, which attained $1.6 billion and distributable cash flow peaked at $1.4 billion, the latter being an increase of 8% from the previous year.
- This significant financial performance underpins the company’s commitment to return on and return of capital with an expectation for steady growth in the partnership through strict capital discipline.
- This progress has seen MPLX yield a peer-leading return on invested capital over the past three years.
Petróleo Brasileiro S.A. – Petrobras: These Are The 6 Pivotal Factors Impacting Their Performance In 2024 & Beyond! – Financial Forecasts
- In the first quarter of 2024, Petrobras achieved consistent cash generation, which improves its security regarding future investments, including those targeting production growth.
- A noteworthy result is the 3.7% year-on-year growth in Petrobras’ production, suggesting a steadily increasing production curve projected in the strategic plan.
- Contributing to this was the excellent performance of the FPSOs Almirante Barroso in Buzios and P-71 in Itapu, reaching peak production last year.
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