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.

Event-Driven

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<a href="https://www.smartkarma.com/entities/ferrovial-sa" target="_blank" data-smartkarma-citation="entities:21031:1" rel="noopener">Ferrovial Sa (FER SM)</a> announces the sale of its 25% stake in Heathrow Airport Holdings for £2,368 million (valued at zero in its books), far exceeding my valuation of €1,617 million.</li>
<li>With the operation, Ferrovial will be able to invest in more lucrative new infrastructure projects than Heathrow (a mature asset). Ferrovial is focused on growth in North American greenfield projects.</li>
<li>The divestment should have a positive impact of 4.7% on Ferrovial's consensus target price, which increases to €34.55/share vs. €33/share previously, which implies a revaluation potential of 9.5%.</li>
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Ferrovial Sa (FER SM) announces the sale of its 25% stake in Heathrow Airport Holdings for £2,368 million (valued at zero in its books), far exceeding my valuation of €1,617 million.
With the operation, Ferrovial will be able to invest in more lucrative new infrastructure projects than Heathrow (a mature asset). Ferrovial is focused on growth in North American greenfield projects.
The divestment should have a positive impact of 4.7% on Ferrovial's consensus target price, which increases to €34.55/share vs. €33/share previously, which implies a revaluation potential of 9.5%.


Ferrovial Sa

Taking off from Heathrow