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.

Selected European Holdcos and DLCs: December '21 Report

Selected European Holdcos and DLCs: January ‘22 Report

IFM/Naturgy: Tender Results & Ibex-35 Index Implications

IFM/Naturgy: Board Opinion And Bid Scenarios

Event-Driven

<ul>
<li>Since the closing of IFM's partial takeover offer, the share price of Naturgy has climbed to new highs, contrary to what logic would have stated.</li>
<li>IFM has bought over 1% of Naturgy from a reduced free float, and it now holds 12.04% (vs. 10.8% at the offer closing). That stake is worth €3.4 billion.</li>
<li>Buying pressure from both IFM and La Caixa and maybe some shorts closing are likely to extend the share price gains.</li>
</ul>


Since the closing of IFM's partial takeover offer, the share price of Naturgy has climbed to new highs, contrary to what logic would have stated.
IFM has bought over 1% of Naturgy from a reduced free float, and it now holds 12.04% (vs. 10.8% at the offer closing). That stake is worth €3.4 billion.
Buying pressure from both IFM and La Caixa and maybe some shorts closing are likely to extend the share price gains.


Naturgy Energy Group SA

IFM/Naturgy: Surprising Offer Epilogue