Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

On October 24th, US-based aircraft leasing company <a href="https://www.smartkarma.com/entities/aircastle-ltd" target="_blank" data-smartkarma-citation="entities:1642:1" rel="noopener">Aircastle Ltd (AYR US)</a><a href="https://investors.aircastle.com/news-releases/news-release-details/aircastle-announces-review-strategic-alternatives" target="_blank" rel="noopener">announced</a> a review of strategic alternatives stating that they had received "non-binding expressions of interest from multiple third parties" and that they were in preliminary discussion regarding a sale of the company. Aircastle <a href="https://sec.report/Document/0001104659-19-061158/" target="_blank" rel="noopener">announced on 6th November</a> that they had reached an agreement with 28.8%-shareholder <a href="https://www.smartkarma.com/entities/marubeni-corp" target="_blank" data-smartkarma-citation="entities:7463:1" rel="noopener">Marubeni Corp (8002 JP)</a> to acquire the remaining 71.2% of Aircastle shares in an all-cash deal valuing the company at a market cap of US$2.4bn.The Deal, which is expected close in the first half of 2020, is conditional on receiving approval from Aircastle's Shareholders and approval from the regulatory authorities. Marubeni will vote its 28.8% in favor of the Deal. The Offer Price of US$32.00 per share comes at a healthy premium of 34.1% to the undisturbed closing price on October 23rd, the day before Aircastle's announcement of the strategic review. Although Aircastle's shares are currently trading above the Offer Price, Aircastle is expected to continue paying its quarterly dividends until the deal closes.

On October 24th, US-based aircraft leasing company Aircastle Ltd (AYR US)announced a review of strategic alternatives stating that they had received "non-binding expressions of interest from multiple third parties" and that they were in preliminary discussion regarding a sale of the company. Aircastle announced on 6th November that they had reached an agreement with 28.8%-shareholder Marubeni Corp (8002 JP) to acquire the remaining 71.2% of Aircastle shares in an all-cash deal valuing the company at a market cap of US$2.4bn.The Deal, which is expected close in the first half of 2020, is conditional on receiving approval from Aircastle's Shareholders and approval from the regulatory authorities. Marubeni will vote its 28.8% in favor of the Deal. The Offer Price of US$32.00 per share comes at a healthy premium of 34.1% to the undisturbed closing price on October 23rd, the day before Aircastle's announcement of the strategic review. Although Aircastle's shares are currently trading above the Offer Price, Aircastle is expected to continue paying its quarterly dividends until the deal closes.

Aircastle Takeover - Still Trading at a Premium But Good To Go At Terms