Daily BriefsIndustrials

Daily Brief Industrials: Schneider Electric Infrastructure, Caverion Corp, CDP Holdings and more

In today’s briefing:

  • India Channel Insight #48 | SKF, Schaeffler, Schneider
  • Triton/Caverion: Hostile Competing Offer
  • CDP Holding Pre-IPO – Sales Have Grown but Continues to Rake in Losses

India Channel Insight #48 | SKF, Schaeffler, Schneider

By Pranav Bhavsar


Triton/Caverion: Hostile Competing Offer

By Jesus Rodriguez Aguilar

  • On 10 January, former significant shareholder Triton gatecrashed the Bain Capital consortium offer with an €8/share hostile competing offer, 14.3% premium to Bain’s). There could be upside up to c.€9.01.
  • Shareholder families have a c.27% (thus blocking) stake. Either they cash out in Triton’s offer, with a possible sweetener (a small increase could be likely) or will raise over Triton’s.
  • The shares are trading 0.62% above Triton’s offer on expectations of a bidding war and/or that offer is not declared unconditional by 30 June. Risk/return looks again positive. Long.

CDP Holding Pre-IPO – Sales Have Grown but Continues to Rake in Losses

By Clarence Chu

  • CDP Holdings (1782198D CH) is looking to raise up to US$400m in its upcoming Hong Kong IPO. 
  • CDP Holding (CDP) is a human capital management (HCM) service provider.
  • As per CIC, CDP was the No. 1 HCM SaaS+ platform in China in terms of revenue generated from HCM SaaS+ services in 2021.

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