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.

CIE’s Partial Takeover Offer Puts Shareholders in the Fast Lane

Event-Driven

<ul>
<li>CIE’s €24/share partial offer closed with just 9.8% uptake, suggesting investors see more value ahead. No proration required. Treasury shares may support future free float improvements.</li>
<li>The weak subscription outcome aligns with our DCF-based fair value of €31–33/share. Market consensus also points to €32, underscoring material undervaluation and long-term upside potential.</li>
<li>Strong fundamentals, 4.0% yield, and attractive peer comps reinforce the case. Investors chose to stay long, confirming confidence in CIE’s strategic direction, liquidity plans, and re-rating potential.</li>
</ul>


CIE’s €24/share partial offer closed with just 9.8% uptake, suggesting investors see more value ahead. No proration required. Treasury shares may support future free float improvements.
The weak subscription outcome aligns with our DCF-based fair value of €31–33/share. Market consensus also points to €32, underscoring material undervaluation and long-term upside potential.
Strong fundamentals, 4.0% yield, and attractive peer comps reinforce the case. Investors chose to stay long, confirming confidence in CIE’s strategic direction, liquidity plans, and re-rating potential.


CIE Partial Tender Fizzles – No Proration, Bullish Signal

Cie Automotive Sa

CIE Partial Tender Fizzles – No Proration, Bullish Signal