Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

AGL Drops Demerger Proposal - Back To Square Two

AGL - Down, Not Out. Tight Coal Vs FIDs. And MCB Waiting

Second Brookfield-MCB Bid for AGL Energy Rejected

Brookfield/Cannon-Brookes Lowball Bid for AGL (AGL AU) Likely to Get the Kibosh.

MCB Goes Big To Thwart AGL Energy De-Merger

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/agl-energy-ltd" target="_blank" data-smartkarma-citation="entities:554:1" rel="noopener">AGL Energy Ltd (AGL AU)</a> <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02358644-2A1289840?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">announced</a> a de-merger of its power distribution and power generation segments on 30 March 2021 after a 1H21 results comment saying "conflicting dynamics necessitated a review."</li>
<li>So for a year, AGL prepared its de-merger and talked about it every quarter. 11.5 months later, MCB/Brookfield put a lowball bid on the table. Then upped it. Both rejected.</li>
<li>MCB says the de-merger plan is bad, and some analysts now say it is "underwhelming." Duh. Not much has changed in 12mos. But the alternative? Underwhelming too, but less independent.</li>
</ul>



AGL Energy Ltd (AGL AU) announced a de-merger of its power distribution and power generation segments on 30 March 2021 after a 1H21 results comment saying "conflicting dynamics necessitated a review."
So for a year, AGL prepared its de-merger and talked about it every quarter. 11.5 months later, MCB/Brookfield put a lowball bid on the table. Then upped it. Both rejected.
MCB says the de-merger plan is bad, and some analysts now say it is "underwhelming." Duh. Not much has changed in 12mos. But the alternative? Underwhelming too, but less independent.


MCB May Block the AGL De-Merger, But Think About the Alternative