80% of NAV sits in an exceptional business about to go public, yet the stock trades at a 50% discount to NAV. The Belron IPO looks increasingly likely and D'Ieteren is the only way to play it.
Yes so bear case probability definitely reduces- if we used 2027 estimates for the various segments, particularly Belron the expected IRR would likely go higher- I talk about it in my latest post linked below
I guess with announcement today - the exepcted IRR goes up substantially - as no probability vastly reduced
Yes so bear case probability definitely reduces- if we used 2027 estimates for the various segments, particularly Belron the expected IRR would likely go higher- I talk about it in my latest post linked below
https://www.thevaluejunkie.com/p/dieteren-1h26-results-belron-heading
Great work on this article!
Thanks Aleksander!