Compass: The AIC’s monthly newsletter

Bidding war for Hipgnosis steps up a notch

In a further development to the recent offers by Concord Chorus Limited and Blackstone Europe for the assets of Hipgnosis’s (SONG) over the past week ( discussed here, and here), Concord Chorus Limited has announced that it has reached agreement on the terms of an increased cash offer. This is at an increased price of […]

Boussard & Gavaudan heads towards wind down

Boussard & Gavaudan Holding (BGHL) announced its annual results for the 12 month period to 31 December 2023.  The NAV for the Euro shares decreased by 0.79% and the Sterling shares increased by 0.57%, whilst the market price of BGHL’s Euro shares increased by 13.51% and the market price of the Sterling shares increased by […]

Challenging year for GABI as wind down looms

GCP Asset Backed Income Fund (GABI) announced its annual report for the year end 31 December 2023. The company delivered a NAV total return of 5%, although the share price total return was -14.1%, leading to a large increase in the discount which now sits at 27%. The company did announce profits of £18.3 million […]

Improving outlook after tough year for Aquila European Renewables

Aquila European Renewables (AERI) announced its annual results for the year end 31 December 2023. The NAV total return was -6.0% while shares fell -9.0% with the discount widening to 20.3%. The company sited substantial interest rate increases, supply chain disruptions and falling commodity and electricity prices for the negative returns. AERI did deliver a […]