Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

Equity Bottom-Up

<ul>
<li>dsm-firmenich | increases shareholding in Yantai DSM Andre Pectin Company dsm-firmenich completed the shareholding increase in Yantai DSM Andre Pectin Company to 90.5% from 75%.</li>
<li>Andre Pectin is a leading specialty food ingredient producer. The remaining 9.5% of the shares in Andre Pectin continue to be held by Rich Spring Holdings.</li>
<li>DSM acquired a 29% stake in Andre Pectin in 2013. In 2019 it raised its interest purchasing an additional 46% stake in Andre Pectin for a consideration of about EUR 150m.</li>
</ul>


dsm-firmenich | increases shareholding in Yantai DSM Andre Pectin Company dsm-firmenich completed the shareholding increase in Yantai DSM Andre Pectin Company to 90.5% from 75%.
Andre Pectin is a leading specialty food ingredient producer. The remaining 9.5% of the shares in Andre Pectin continue to be held by Rich Spring Holdings.
DSM acquired a 29% stake in Andre Pectin in 2013. In 2019 it raised its interest purchasing an additional 46% stake in Andre Pectin for a consideration of about EUR 150m.


What's New(s) in Amsterdam - 3 April (dsm-firmenich | Avantium)

<ul>
<li>In today's edition: • dsm-firmenich | sold its remainder ~1% stake in Robertet</li>
<li>KPN | Delta announced tariff increases as per 1 January 2025</li>
<li>Unilever | puts its efforts to sell its ice cream business to private equity on ice </li>
</ul>


In today's edition: • dsm-firmenich | sold its remainder ~1% stake in Robertet
KPN | Delta announced tariff increases as per 1 January 2025
Unilever | puts its efforts to sell its ice cream business to private equity on ice 


What's News in Amsterdam - 21 November (Dsm-Firmenich | KPN | Unilever | ForFarmers | PostNL)

Thematic (Sector/Industry)

<ul>
<li>According to Bloomberg, several private equity parties are looking at a possible takeover of dsmfirmenich 's animal feed division.</li>
<li>CVC Capital Partners, Apollo, Bain Capital and Lone Star are among those interested.</li>
<li>dsm-firmenich announced last year that it would be divesting the division.</li>
</ul>


According to Bloomberg, several private equity parties are looking at a possible takeover of dsmfirmenich 's animal feed division.
CVC Capital Partners, Apollo, Bain Capital and Lone Star are among those interested.
dsm-firmenich announced last year that it would be divesting the division.


What's New(s) in Amsterdam - 7 April (dsm-firmenich | Shell | InPost | B&S Group | TomTom)

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The ES50 Index is one of the most highly-tracked indices in Europe and the annual index review takes place in September every year.</li>
<li>In this insight, we take a look at Quiddity's estimation of the latest ranks of potential ADDs and DELs for the upcoming index rebal event in September 2024.</li>
<li>We have been tracking these movements for several months and it seemed like index changes were unlikely to take place but our expectations have changed now.</li>
</ul>


The ES50 Index is one of the most highly-tracked indices in Europe and the annual index review takes place in September every year.
In this insight, we take a look at Quiddity's estimation of the latest ranks of potential ADDs and DELs for the upcoming index rebal event in September 2024.
We have been tracking these movements for several months and it seemed like index changes were unlikely to take place but our expectations have changed now.


Quiddity Leaderboard ES50 Sep 24: Billion Dollar Flows Now in the Money

<ul>
<li>On February 13, 2025, when publishing in FY24 results, dsm-firmenich announced its intention to repurchase ordinary shares with an aggregate market value of EUR 1bn and reduce its issued capital.</li>
<li>This share repurchase program will start for an initial EUR 500m and will be increased to EUR 1bn upon the completion of the previously announced sale of the company’s stake in the Feed Enzymes Alliance.</li>
<li>As of today, April 1, 2025, the company intends to begin repurchasing ordinary shares for a total amount of EUR 580m, of which EUR 80m to cover commitments under the Group’s share-based compensation plans and EUR 500m to reduce its issued capital.</li>
</ul>


On February 13, 2025, when publishing in FY24 results, dsm-firmenich announced its intention to repurchase ordinary shares with an aggregate market value of EUR 1bn and reduce its issued capital.
This share repurchase program will start for an initial EUR 500m and will be increased to EUR 1bn upon the completion of the previously announced sale of the company’s stake in the Feed Enzymes Alliance.
As of today, April 1, 2025, the company intends to begin repurchasing ordinary shares for a total amount of EUR 580m, of which EUR 80m to cover commitments under the Group’s share-based compensation plans and EUR 500m to reduce its issued capital.


What's New(s) in Amsterdam - 1 April (dsm-firmenich | Shell)

Switzerland

DSM-Firmenich AG is an innovator in nutrition, health, and beauty products. The Company reinvents, manufactures, and combines vital nutrients, flavors, and fragrances. DSM-Firmenich serves customers worldwide.

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DSM-Firmenich (DSFIR NA)

What's New(s) in Amsterdam - 3 April (dsm-firmenich | Avantium)

dsm-firmenich | increases shareholding in Yantai DSM Andre Pectin Company dsm-firmenich completed the shareholding increase in Yantai DSM Andre...

The IDEA!

What's News in Amsterdam - 21 November (Dsm-Firmenich | KPN | Unilever | ForFarmers | PostNL)

In today's edition: • dsm-firmenich | sold its remainder ~1% stake in Robertet • KPN | Delta announced tariff increases as per 1 January...

The IDEA!

What's New(s) in Amsterdam - 7 April (dsm-firmenich | Shell | InPost | B&S Group | TomTom)

According to Bloomberg, several private equity parties are looking at a possible takeover of dsmfirmenich 's animal feed division.

The IDEA!

Quiddity Leaderboard ES50 Sep 24: Billion Dollar Flows Now in the Money

There could be 23 days of volume to buy in DSM-Firmenich and 15 days of volume to sell in Nokia as things stand. However, this is a low-conviction...

Janaghan Jeyakumar, CFA

What's New(s) in Amsterdam - 1 April (dsm-firmenich | Shell)

On February 13, 2025, when publishing in FY24 results, dsm-firmenich announced its intention to repurchase ordinary shares with an aggregate market...

The IDEA!

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52-week Range

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