Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

On 22nd June, France-headquartered Media company <a href="https://www.smartkarma.com/entities/mediawan-sa" target="_blank" data-smartkarma-citation="entities:29143:1" rel="noopener">Mediawan (MDW FP)</a> announced its founders, along with <a href="https://www.smartkarma.com/entities/kkr-co-inc" target="_blank" data-smartkarma-citation="entities:27333:1" rel="noopener">KKR &amp; Co Inc (KKR US)</a> and French insurer <a href="https://www.macsf.fr/" target="_blank" rel="noopener">MACSF</a>, launched a <a href="https://www.mediawan.com/pdf/Gallery/PDF-7CikfrCwLw6e70s-1592803533.pdf" target="_blank" rel="noopener">Public Tender Offer</a> to acquire all the remaining shares (~73%) currently not owned by them. Under the terms of the Tender Offer, Mediawan’s shareholders would receive €12.00 per share in cash. The Tender offer will also cover the outstanding warrants issued by Mediawan. The warrants holders would receive €0.65 per warrant tendered. The Offer is conditional on receiving regulatory approvals and satisfying a minimum acceptance threshold of 55% (including the 27% already owned). At the time of writing, the company's shares are very close to terms at €11.94, translating to a gross spread of 0.5%. More below the fold.

On 22nd June, France-headquartered Media company Mediawan (MDW FP) announced its founders, along with KKR &amp; Co Inc (KKR US) and French insurer MACSF, launched a Public Tender Offer to acquire all the remaining shares (~73%) currently not owned by them. Under the terms of the Tender Offer, Mediawan’s shareholders would receive €12.00 per share in cash. The Tender offer will also cover the outstanding warrants issued by Mediawan. The warrants holders would receive €0.65 per warrant tendered. The Offer is conditional on receiving regulatory approvals and satisfying a minimum acceptance threshold of 55% (including the 27% already owned). At the time of writing, the company's shares are very close to terms at €11.94, translating to a gross spread of 0.5%. More below the fold. 

Mediawan Tender Offer: Trading Close to Terms

France

Mediawan S.A. operates as as independent editor, producer and distributor of audiovisual content. It is primarily involved in producing and distributing series, television movies, cartoons and documentaries, and in editing TV channels and bundled digital services.

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Mediawan Tender Offer: Trading Close to Terms

On 22nd June, France-headquartered Media company Mediawan (MDW FP) announced its founders, along with KKR & Co Inc (KKR US) and French insurer...

Janaghan Jeyakumar, CFA