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.

Event-Driven

<ul>
<li>Argos’s strategic value remains underappreciated, despite JD.com walking away. A sale or internal turnaround could unlock up to £2 billion in value based on realistic, post-tax synergy assumptions.</li>
<li>Sainsbury acquired Argos for £1.4 billion in 2016, aiming for multichannel scale. While digital integration succeeded, long-term profit delivery has lagged — offering a compelling restructuring opportunity today.</li>
<li>My event-driven SOTP model shows 10–25% share price upside, with optionality from renewed M&amp;A interest, internal margin improvement, or capital allocation catalysts including divestment or spin-off.</li>
</ul>


Argos’s strategic value remains underappreciated, despite JD.com walking away. A sale or internal turnaround could unlock up to £2 billion in value based on realistic, post-tax synergy assumptions.
Sainsbury acquired Argos for £1.4 billion in 2016, aiming for multichannel scale. While digital integration succeeded, long-term profit delivery has lagged — offering a compelling restructuring opportunity today.
My event-driven SOTP model shows 10–25% share price upside, with optionality from renewed M&amp;A interest, internal margin improvement, or capital allocation catalysts including divestment or spin-off.


JD Walks from Argos – But Sainsbury's Valuation Case Strengthens

J Sainsbury PLC

JD Walks from Argos – But Sainsbury's Valuation Case Strengthens