European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Advent & CenterBridge/​Aareal Bank AG: All Conditions Met

Advent & Centerbridge/Aareal: Bid Progress, Attractive Spread

Advent & CenterBridge/​Aareal: Getting the Holdouts on Board

Event-Driven

<ul>
<li>The Delisting Agreement should end the Atlantic bidding for <a href="https://www.smartkarma.com/entities/aareal-bank-ag" target="_blank" data-smartkarma-citation="entities:21584:1" rel="noopener">Aareal Bank AG (ARL GR)</a> saga. Atlantic has been hoovering shares in the market since last 7 June.</li>
<li>Atlantic probably owns c.90.8%. Based on daily trading volumes, it would take many days to acquire shares and reach the 95% barrier required to implement a squeeze-out.</li>
<li>Spread is 0.3%/2.3% (gross/annualised, assuming settlement on 8 December), not too bad for a quick buck, but liquidity is razor thin.</li>
</ul>


The Delisting Agreement should end the Atlantic bidding for Aareal Bank AG (ARL GR) saga. Atlantic has been hoovering shares in the market since last 7 June.
Atlantic probably owns c.90.8%. Based on daily trading volumes, it would take many days to acquire shares and reach the 95% barrier required to implement a squeeze-out.
Spread is 0.3%/2.3% (gross/annualised, assuming settlement on 8 December), not too bad for a quick buck, but liquidity is razor thin.


Advent & CenterBridge/​Aareal Bank AG: Delisting Offer

Aareal Bank AG

Advent & CenterBridge/​Aareal Bank AG: Delisting Offer

Advent & CenterBridge/Aareal Bank AG: Delisting Offer