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.

Start of Acceptance Period with Guaranteed Success

Antin/Opdenergy: Squeeze-Out. Who'll Be Next?

EQT/Solarpack: Friendly Take-Private Deal

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/antin-infrastructure-partners" target="_blank" data-smartkarma-citation="entities:34340:1" rel="noopener">Antin Infrastructure Partners (ANTIN FP)</a> offers €5.85/share in cash for renewable producer <a href="https://www.smartkarma.com/entities/opdenergy-holdings-sa" target="_blank" data-smartkarma-citation="entities:39849:1" rel="noopener">Opdenergy Holdings (OPDE SM)</a> (46% premium). Minimum acceptance is 75%, with irrevocables &gt;71%, just 13.2% of the float is needed.</li>
<li>Virtually a done deal, at fair price. Nevertheless, an agreement similar to those in MásMóvil and Solarpack takeouts leaves minorities with virtually no capacity to ask for a sweetening.</li>
<li>Spread is Spread is 3.25%/6.56% (gross/annualised, assuming 20 December). Readacross: Ecoener, Grenergy, Audax, Solaria could all be the object of takeover bids (either from private equity or minority buyouts).</li>
</ul>



Antin Infrastructure Partners (ANTIN FP) offers €5.85/share in cash for renewable producer Opdenergy Holdings (OPDE SM) (46% premium). Minimum acceptance is 75%, with irrevocables &gt;71%, just 13.2% of the float is needed.
Virtually a done deal, at fair price. Nevertheless, an agreement similar to those in MásMóvil and Solarpack takeouts leaves minorities with virtually no capacity to ask for a sweetening.
Spread is Spread is 3.25%/6.56% (gross/annualised, assuming 20 December). Readacross: Ecoener, Grenergy, Audax, Solaria could all be the object of takeover bids (either from private equity or minority buyouts).


Antin/Opdenergy: Spanish Renewables in Focus