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 22 years of covering Asia Pacific equities, the past 19 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

Cromwell Prop (CMW AU): ESR Exit Post-Privatization?

ESR (1821 HK): Sell First, Ask Questions Later

Quiddity Advisors

Event-Driven

<ul>
<li>As discussed in <a href="https://skr.ma/CRvUL" target="_blank" rel="noopener">Cromwell Prop (CMW AU): ESR Exit Post-Privatization?</a>,  after <a href="https://www.smartkarma.com/entities/esr-group-ltd" target="_blank" data-smartkarma-citation="entities:27983:1" rel="noopener">ESR (1821 HK)</a> acquired ARA Asset Management in 2021, it said <a href="https://www.smartkarma.com/entities/cromwell-property-group" target="_blank" data-smartkarma-citation="entities:2780:1" rel="noopener">Cromwell Property (CMW AU)</a> was a non-core holding.</li>
<li>After ESR announced a privatisation by Warburg/Starwood on the 4th December 2024, I mused whether this would accelerate the sale as part of a wider strategic review. </li>
<li>Two months ago, ESR initiated a block trade for part of its 31% stake in Cromwell. Now Brookfield is seeking ESR's remaining 19.9% stake @A$0.38/share. Subject to FIRB approval.
</li>
</ul>


As discussed in Cromwell Prop (CMW AU): ESR Exit Post-Privatization?,  after ESR (1821 HK) acquired ARA Asset Management in 2021, it said Cromwell Property (CMW AU) was a non-core holding.
After ESR announced a privatisation by Warburg/Starwood on the 4th December 2024, I mused whether this would accelerate the sale as part of a wider strategic review. 
Two months ago, ESR initiated a block trade for part of its 31% stake in Cromwell. Now Brookfield is seeking ESR's remaining 19.9% stake @A$0.38/share. Subject to FIRB approval.



Cromwell Prop (CMW AU): Brookfield's Stake Foreshadows A Full Takeover