Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>VERY late last night Tokyo time, <a href="https://www.smartkarma.com/entities/kadoya-sesame-mills-inc" target="_blank" data-smartkarma-citation="entities:10367:1" rel="noopener">Kadoya Sesame Mills (2612 JP)</a> announced a Supported/Recommended Deal whereby local PE form Integral would buy out the company at ¥2,514-2,760 pending shareholder agreements. </li>
<li>The base case is ¥2,514. ¥2,760 comes when major shareholders agree to sell at a discount, passive their tax benefits to the whole shareholder base.</li>
<li>But there's competition. A started things off last year. Integral/family joined in. Major shareholders MitCorp and Mitsui got B and C to join. A and C are still in it.</li>
</ul>


VERY late last night Tokyo time, Kadoya Sesame Mills (2612 JP) announced a Supported/Recommended Deal whereby local PE form Integral would buy out the company at ¥2,514-2,760 pending shareholder agreements. 
The base case is ¥2,514. ¥2,760 comes when major shareholders agree to sell at a discount, passive their tax benefits to the whole shareholder base.
But there's competition. A started things off last year. Integral/family joined in. Major shareholders MitCorp and Mitsui got B and C to join. A and C are still in it.


[Japan M&A] An Ongoing Competitive MBO-Ish Deal for Kadoya Sesame Mills (2612 JP) - Watch for More