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.

CPI/S IMMO: Agreement Regarding EGM and Offer

CPI/Immofinanz: Additional Acceptance Period, S Immo

CPI/Immofinanz: CPI Matches S Immo's Offer and Secures Another Stake

Event-Driven

<ul>
<li>CPI controls now 82.67% of the voting rights, with an additional acceptance period running until 18 November, at €22.85 adjusted offer price. CPI does not intend to seek a squeeze out/delisting.</li>
<li>I believe that ultimately CPI, Immofinanz and S IMMO will merge, potentially making CPI one of the largest players in Europe in a transformative deal.</li>
<li>A conservative valuation, economic profit-based, would be €24.7/share, 15% discount to EPRA NTA. It may be worth buying below the offer price and holding onto the shares. Gross spread: 0.22%.</li>
</ul>


CPI controls now 82.67% of the voting rights, with an additional acceptance period running until 18 November, at €22.85 adjusted offer price. CPI does not intend to seek a squeeze out/delisting.
I believe that ultimately CPI, Immofinanz and S IMMO will merge, potentially making CPI one of the largest players in Europe in a transformative deal.
A conservative valuation, economic profit-based, would be €24.7/share, 15% discount to EPRA NTA. It may be worth buying below the offer price and holding onto the shares. Gross spread: 0.22%.


S IMMO AG

CPI/S Immo: Additional Acceptance Period