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Memyselfandi007's avatar

Fantastic post (as always). I also worry most about the timing. Right now is not the optimal time to sell the asset. Infrastructure assets right now are clearly under some stress due to rising interest rates.

As a relatively new investor, I hoped that the CEO would have a couple of more years in the tank to realize the full value.

I really need to rethink my investment case here.

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Vincent Roy's avatar

Thanks for starting this thread. Like you, I have been a shareholder for 10 years and I saw LGT as a perfect pillar in my portfolio (safe, well managed and an asset light token-taker model that handles inflation well).

I have to admit I am not very happy with the timing of this strategic review. I have been burned in the past with a company with similar characteristics being put on sale at a low valuation low and I really felt like I lost a great company for too low a price.

I like your 3 scenarios but I am quite worried that strategic review triggers bids with a 40% premium which brings us at a poor ~7 EV/EBITDA which is inferior to large periods where the stocks has been in the last 10 years. Loosing Logistec to a paltry one time 40% jump would be a sad outcome from my perspective. Cross my fingers.

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