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.

Heineken (HEIA NA) Vs. Heineken Holdings (HEIO NA): Which Tap?

Selected European HoldCos and DLC: October 2025 Report

Vivendi: Mandatory Buyout in Motion – High-Conviction Risk Arb with 30%+ Upside

Selected European HoldCos and DLC: September 2025 Report

Selected European HoldCos and DLC: July 2025 Report

Event-Driven

<ul>
<li>Holdco dispersion persists: GBL simplifies and strengthens liquidity yet trades at –30.5%; Industrivärden and Investor remain unusually tight; Heineken Holding stable in its post-Covid range.</li>
<li>Porsche SE’s ~30% discount aligns with “no-liability” scenarios, while Rio Tinto’s DLC premium stays structurally elevated, leaving convergence trades dependent on governance catalysts rather than statistical mean reversion.</li>
<li>Vivendi’s discount widened to 42% on legal timing noise; AMF logic unchanged. Optionality rebuilt, making Vivendi the most asymmetric setup in the current holdco universe.</li>
</ul>


Holdco dispersion persists: GBL simplifies and strengthens liquidity yet trades at –30.5%; Industrivärden and Investor remain unusually tight; Heineken Holding stable in its post-Covid range.
Porsche SE’s ~30% discount aligns with “no-liability” scenarios, while Rio Tinto’s DLC premium stays structurally elevated, leaving convergence trades dependent on governance catalysts rather than statistical mean reversion.
Vivendi’s discount widened to 42% on legal timing noise; AMF logic unchanged. Optionality rebuilt, making Vivendi the most asymmetric setup in the current holdco universe.


Selected European HoldCos and DLC: November 2025 Report

Vivendi SE

Selected European HoldCos and DLC: November 2025 Report