Nirvana ASIA IPO: sound fundamentals, yet valuation unappealing

Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Event-Driven

<p>We are following up on Crispin Francis' analysis of the Nirvana Asia privatization offer <a href="https://www.smartkarma.com/insights/nirvana-smells-like-team-spirit" target="_blank" data-smartkarma-citation="insights:4531">Nirvana - Smells like Team Spirit</a> with data on precedent M&amp;A transactions in the death services sector.  The data are predominately from North America, but appear to be comprehensive.  We obtained the information from the proxy statements for the privatization of Arbor Memorial Services in 2012, and Service Corporation International's (SCI: US) purchase of Stewart Enterprises.</p><p>The table below provides the…</p>

We are following up on Crispin Francis' analysis of the Nirvana Asia privatization offer Nirvana - Smells like Team Spirit with data on precedent M&amp;A transactions in the death services sector.  The data are predominately from North America, but appear to be comprehensive.  We obtained the information from the proxy statements for the privatization of Arbor Memorial Services in 2012, and Service Corporation International's (SCI: US) purchase of Stewart Enterprises.The table below provides the…

Nirvana Asia

Precedent Transactions Favor the Buyers