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.

KKR / Albioma: Agreed Offer, Est. Timetable

KKR/Albioma: Offer Success and Reopening of Offer Period

IIF/Falck Renewables: Acquisition of Majority Stake

EQT/Solarpack: Friendly Take-Private Deal

Event-Driven

<ul>
<li>KKR is considering the takeover of recently underperforming renewable energy producer Albioma. The sector is trendy due to low real interest rates, increasing electricity prices and interest from infrastructure funds.</li>
<li>The deal should increase KKR's exposure in renewable energies across geographies (Albioma has exposure to France, Mauritius, Brazil and others, and accelerate Albioma's growth.</li>
<li>Awaiting for further news, comparables are trading at a median 14.7x EV/Fwd EBITDA, thus the implied equity value of Albioma would be €62.2/share. Falck was taken at 16.3x EV/Fwd EBITDA.</li>
</ul>


KKR is considering the takeover of recently underperforming renewable energy producer Albioma. The sector is trendy due to low real interest rates, increasing electricity prices and interest from infrastructure funds.
The deal should increase KKR's exposure in renewable energies across geographies (Albioma has exposure to France, Mauritius, Brazil and others, and accelerate Albioma's growth.
Awaiting for further news, comparables are trading at a median 14.7x EV/Fwd EBITDA, thus the implied equity value of Albioma would be €62.2/share. Falck was taken at 16.3x EV/Fwd EBITDA.


Albioma SA

KKR/Albioma: Takeover Interest