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.

BBVA/Sabadell: Adjustment of Exchange Equation

BBVA/Sabadell: Update on Conditions, Positive Gross Spread

Enhanced Regulatory Scrutiny of M&A in the EU

BBVA-Sabadell "Merger" Conversations, Deal Numbers

BBVA Files Hostile Offer: Conditions, Defences and Probabilities

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Event-Driven

<ul>
<li>Banco de Sabadell’s Q2 2024 results highlight strong performance, strategic progress, and effective capital management.</li>
<li>Sabadell is currently trading at a 0.89x P/TBV (vs. 5-y 0.41x average), accurately representing its profitability and RoTE outlook. It is also trading at 7.5x Fwd P/E.</li>
<li>BBVA’s takeover bid is unlikely to succeed unless BBVA enhances the share exchange ratio or includes some cash. Gross spread (1 BBVA x 4.83 SAB) is just 3.4%.</li>
</ul>


Banco de Sabadell’s Q2 2024 results highlight strong performance, strategic progress, and effective capital management.
Sabadell is currently trading at a 0.89x P/TBV (vs. 5-y 0.41x average), accurately representing its profitability and RoTE outlook. It is also trading at 7.5x Fwd P/E.
BBVA’s takeover bid is unlikely to succeed unless BBVA enhances the share exchange ratio or includes some cash. Gross spread (1 BBVA x 4.83 SAB) is just 3.4%.


BBVA/Sabadell: Deal Uncertainty Grows After Sabadell's Results

Banco De Sabadell SA

BBVA/Sabadell: Deal Uncertainty Grows After Sabadell's Results