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 DLC: May’23 Report

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

Event-Driven

<ul>
<li>Project Gemini seems to have been put on ice for at least twelve months, which is unsurprising given the volatility in energy markets and Government intervention.</li>
<li>Top shareholders IFM and CVC are committed to their investments. GIP has on paper gained almost the same amount it invested from dividends and share price increases. </li>
<li>The stake of GIP is worth c. €5 billion. I do not see TotalEnergiesto spending that money for a stake that would not grant it control over Naturgy.</li>
</ul>


Project Gemini seems to have been put on ice for at least twelve months, which is unsurprising given the volatility in energy markets and Government intervention.
Top shareholders IFM and CVC are committed to their investments. GIP has on paper gained almost the same amount it invested from dividends and share price increases. 
The stake of GIP is worth c. €5 billion. I do not see TotalEnergiesto spending that money for a stake that would not grant it control over Naturgy.


Naturgy Energy Group SA

Naturgy Split Remains Frozen