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.

KKR / Albioma: Agreed Offer, Est. Timetable

IIF/Falck Renewables: Acquisition of Majority Stake

Event-Driven

<ul>
<li>The agreed Offer has been successful. KKR will hold 83.44% of Albioma’s share capital following the first offer period. The Offer will shortly be reopened at the same price.</li>
<li>Albioma is being taken at 11.4x EV/Fwd EBITDA and 25.1x Fwd P/E, although not as rich as other recent deals, I believe holdouts will tender in the Reopened Offer.</li>
<li>Recommendation is tender rather than wait for an implementation of a forced sale.</li>
</ul>


The agreed Offer has been successful. KKR will hold 83.44% of Albioma’s share capital following the first offer period. The Offer will shortly be reopened at the same price.
Albioma is being taken at 11.4x EV/Fwd EBITDA and 25.1x Fwd P/E, although not as rich as other recent deals, I believe holdouts will tender in the Reopened Offer.
Recommendation is tender rather than wait for an implementation of a forced sale.


KKR/Albioma: Offer Success and Reopening of Offer Period

Albioma SA

KKR/Albioma: Offer Success and Reopening of Offer Period