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.

Castlelake/EasyJet: Final Approach at 650p?

Castlelake/EasyJet: Valuation Bridged, Execution Remains

Castlelake/EasyJet: RNS Confirms New 3 August Deadline

Event-Driven

<ul>
<li>Castlelake’s 625p proposal values easyJet at 3.45x NTM EBITDA, below the 4.1x peer median and less than half Ryanair’s 7.2x multiple, supporting the board’s rejection.</li>
<li>Castlelake’s 625p proposal values easyJet at 3.45x NTM EBITDA, below the 4.1x peer median and less than half Ryanair’s 7.2x multiple, supporting the board’s rejection.</li>
<li>My base-case valuation is 632p/share, rising to 731p at the sector median multiple. Probability-weighted value is 635p, versus the current share price of 518p.</li>
</ul>


Castlelake’s 625p proposal values easyJet at 3.45x NTM EBITDA, below the 4.1x peer median and less than half Ryanair’s 7.2x multiple, supporting the board’s rejection.
Castlelake’s 625p proposal values easyJet at 3.45x NTM EBITDA, below the 4.1x peer median and less than half Ryanair’s 7.2x multiple, supporting the board’s rejection.
My base-case valuation is 632p/share, rising to 731p at the sector median multiple. Probability-weighted value is 635p, versus the current share price of 518p.


easyJet

Castlelake/EasyJet: Is 625p Enough?