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.

DCC: Firm Offer Agreed — Remaining Conditions and Spread

DCC: Early-Stage Bid, Market Lacking Energy

Event-Driven

<ul>
<li>KKR and Energy Capital Partners introduced a contingent Nexora payment rather than increasing the base offer, concentrating the remaining valuation disagreement on a single asset.</li>
<li>Completion risk has fallen materially following completion of due diligence and substantial agreement of transaction documentation, supporting a higher probability-weighted valuation despite the contingent consideration.</li>
<li>The shares still offer a 6.2% gross spread to the unconditional consideration, with additional upside if Nexora is sold at management's targeted valuation.</li>
</ul>


KKR and Energy Capital Partners introduced a contingent Nexora payment rather than increasing the base offer, concentrating the remaining valuation disagreement on a single asset.
Completion risk has fallen materially following completion of due diligence and substantial agreement of transaction documentation, supporting a higher probability-weighted valuation despite the contingent consideration.
The shares still offer a 6.2% gross spread to the unconditional consideration, with additional upside if Nexora is sold at management's targeted valuation.


DCC

DCC: The Remaining Gap Has a Name