We're posting up notes from the 2017 London Value Investor Conference. Next up is Michael Keller of Brown Brothers Harriman who pitched a long of Wendel SE (EPA:MF).
Michael Keller's Presentation at London Value Investor Conference
Long: Wendel SE (EPA: MF)
Wendel is a holding company based in France that invests in a variety of industries. It usually takes control positions and at the very least it has significant influence. The Wendel Family has overall control but professional managers run the day to day operations. They are drawn to Wendel by:
- Attractive combination of assets
- Most of their companies sell products that are vital to other companies
- The stable and long-term capital structure
- The overlap of the businesses philosophy with their own
- A double-digit discount to NAV
Be sure to check out the rest of the presentations from the London Value Investor Conference.
Tuesday, May 30, 2017
Michael Keller's Presentation at London Value Investor Conference
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