In today’s briefing:
- NCC Group’s Strategic Review and Potential Sale: Examining Escode Division’s Impact on Shareholder Returns and Market Valuation
- Last Week In Event SPACE: Toyota Inds, Dongfeng Motors, Aeon/TSURUHA, Jinke Smart, Genting Malaysia
- Asia-Pac M&A Weekly Wrap: ANE (Cayman), Predictive Discovery, African Gold, Steadfast, Spindex
NCC Group’s Strategic Review and Potential Sale: Examining Escode Division’s Impact on Shareholder Returns and Market Valuation
- NCC Group is considering selling its Escode division, potentially valued at GBP 300-350m, with proceeds likely returned to shareholders.
- The cybersecurity division could be sold for GBP 200m or more, with strategic buyers showing interest amid industry consolidation.
- Richard Griffith, a major shareholder with a 15% stake, indicates potential corporate action, supported by recent entity registrations.
Last Week In Event SPACE: Toyota Inds, Dongfeng Motors, Aeon/TSURUHA, Jinke Smart, Genting Malaysia
- The process in the Toyota Industries (6201 JP) transaction is egregiously bad and lacking in transparency. This deal, as structured, is block-able, even if bumped.
- There’s been a lot of enthusiasm for HK spin-offs of late (Zijin Mining (2899 HK) and MINISO (9896 HK)). I’m not convinced Dongfeng Motor (489 HK) deserves similar accolades.
- If you’ve the ability to borrow Aeon (8267 JP), this promises to be fun/interesting. If you’re a long-only investor, it’s more nuanced. And it depends on where you are post-tender.
Asia-Pac M&A Weekly Wrap: ANE (Cayman), Predictive Discovery, African Gold, Steadfast, Spindex
- I tally 37 – mostly firm, mostly Asia-Pac – arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
- Three new deals were discussed on Smartkarma this week: Predictive Discovery (PDI AU), African Gold Ltd (A1G AU), and Low Keng Huat Singapore (LKH SP).
- Key updates/news also took place on: ANE Cayman Inc (9956 HK), Steadfast (SDF AU), and Spindex Industries (SPE SP).
💡 Before it’s here, it’s on Smartkarma
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