"The problem asset of the last 6 months has been New Look, where the valuation multiple has been decreased in combination with lower earnings. A double whammy on the carrying value of the asset! New Look has gone from their biggest asset to the number 3 position now." To market to market to buy … Continue reading There is a New Look to Brait”s Assets
"We have interim numbers out of Brait on Wednesday. These numbers were probably more highly anticipated than usual thanks to the fall out from Brexit and Brait having major assets in the UK. Given that Brait is an investment company, the figure that people want to see is the NAV number that management feel is … Continue reading Make Brait Great Again
"Brait has been a stock that has sucked serious wind lately. And by lately, I mean in the last three months. Up until Brexit. And then basically everything changed from there, check out the share price taking a couple of legs down post the Brexit vote and the subsequent rerating of their UK assets." … Continue reading Braixit
"There is little that you can do about the currency. There is nothing that you can do about the average British voter, even if 1.2 million of them suffer from voters remorse." To market to market to buy a fat pig Stocks sank yesterday in the city founded on the largest gold pile known … Continue reading Great Brait(ish) Pound
"In the falling away from the Darty deal, in which FNAC prevailed, Steinhoff owned so many shares and were bought out at the higher level. Meaning that shareholders extracted a pretty sizeable and unexpected gain. So why would that be considered "unlucky"? Anyhow, Darty is gone, the group are making a go for a smaller … Continue reading The Hoff pounding away!
"So why did stocks suddenly click into action? What changed? Stocks have been closely tracking oil prices, for some reason. Perhaps being viewed as a proxy for global growth. There have been and are worries around negative interest rates. And of course the Fed are standing still for now on rates. Oil prices however … Continue reading Protea and market fire!
"Byron went to the presentation, he was pretty impressed, the company brought all their company heads in an epic company presentation. The investment company has been exceptionally busy over the last year to year and a half, this period was especially busy. Having sold the Steinhoff shares, and other investments, having raised a lot … Continue reading Brait’s New Look
"Just a refresher, for their Pepkor stake, the 37 percent interest that Brait held, they got 15 billion Rand in cash and 200 million shares in Steinhoff. The shares have been sold for around 16 billion Dollars. About 80 Rand a share. They are going to use the funds to settle their 14.2 billion Rand … Continue reading Brait in Iceland
"Why raise the money this way? Part of the answer is that they intend to list the bonds on the open market segment in Frankfurt. Sound familiar? Sound like Steinhoff? The same person in common between Steinhoff and Brait is Christo Wiese, who is represented in both companies through his holding entity, Titan. Titan has … Continue reading Bonding with Brait