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 DLCs: February Report

Selected European HoldCos and DLC: November'24 Report

Selected European HoldCos and DLC: October'24 Report

Event-Driven

<ul>
<li>Corporación Financiera Alba’s delisting offer runs from today until April 24, 2025, offering €84.20 per share with a 0.60% gross spread and no intention to implement a squeeze-out.</li>
<li>With shares trading at €83.70 and low daily liquidity (~€1 million), the offer presents a 6.05% annualized return for investors tendering into the deal by the estimated May 2 settlement.</li>
<li>Despite a 15.6% NAV discount, arbitrage through shorting Alba’s listed assets is complex and likely only feasible for institutional investors with efficient execution and access to shorting facilities.</li>
</ul>


Corporación Financiera Alba’s delisting offer runs from today until April 24, 2025, offering €84.20 per share with a 0.60% gross spread and no intention to implement a squeeze-out.
With shares trading at €83.70 and low daily liquidity (~€1 million), the offer presents a 6.05% annualized return for investors tendering into the deal by the estimated May 2 settlement.
Despite a 15.6% NAV discount, arbitrage through shorting Alba’s listed assets is complex and likely only feasible for institutional investors with efficient execution and access to shorting facilities.


Taking Stock Off the Market: Alba’s Final Call

Corp Financiera Alba Sa

Taking Stock Off the Market: Alba’s Final Call