Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 26 years of covering Asia Pacific equities, the past 20 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Austal (ASB AU): Not A Ruse Afterall As Wildcat Tables Indicative Offer For U.S. Ops

Austal (ASB AU) Extends DD to Hanwha As Wild Card Wildcat Lingers On The Scene

Austal (ASB AU): Hanwha Cleared To Lift Stake To 19.9%

Austal (ASB AU): A Hanwha Bid Is Back In Play

The Bigger Picture As Aussie Government "Approves' Hanwha Ocean's Austal Bid

Austal (ASB AU)'s Placement Puts The Skids On Near-Term M&A

Quiddity Advisors

Event-Driven

<ul>
<li>This morning (11th August), Aussie-based shipbuilding and defense firm <strong><a href="https://www.smartkarma.com/entities/austal-ltd" target="_blank" data-smartkarma-citation="entities:14420:1" rel="noopener">Austal Ltd (ASB AU)</a> </strong> announced loses at its US unit after failing to secure contractual relief (previously expected &amp; booked).</li>
<li>Concurrent with this trading update, Austal announced Hanwha, currently holding 19.9% in Austal (9.9% direct + 9.9% via swap), has made a US$1.05-2bn indicative Offer for this US unit.</li>
<li>On balance,  I see Hanwha receiving the necessary regulatory approvals. The US secures a cashed-up ally to construct strategic vessels; and Canberra keeps the domestic ops in local hands. </li>
</ul>


This morning (11th August), Aussie-based shipbuilding and defense firm Austal Ltd (ASB AU)  announced loses at its US unit after failing to secure contractual relief (previously expected &amp; booked).
Concurrent with this trading update, Austal announced Hanwha, currently holding 19.9% in Austal (9.9% direct + 9.9% via swap), has made a US$1.05-2bn indicative Offer for this US unit.
On balance,  I see Hanwha receiving the necessary regulatory approvals. The US secures a cashed-up ally to construct strategic vessels; and Canberra keeps the domestic ops in local hands. 


Austal (ASB AU): Hanwha's Offer For U.S. Unit After Contractual Relief Goes Astray