Smart Calls with Smartkarma continues, and this week, we dive into a deal that’s anything but straightforward.

This episode:

Inside ENN Energy’s Complex Takeover Deal

ENN Natural Gas is offering a mix of cash and newly listed A-shares to take over ENN Energy (2688 HK) but with limited visibility into valuation and an uncommon deal structure, minority shareholders are navigating a fair amount of uncertainty.

Pranav Rao speaks with Insight Provider David Blennerhassett to unpack:

• Why the deal structure is rare for Hong Kong

• What the market is (and isn’t) pricing in

• Valuation challenges and where the H-shares might trade

• Whether there’s room for a bump in terms

A vertical merger, opaque valuation, and a cautious minority, this one’s worth watching.

Like what you heard? Share this episode and follow us for more Smart Calls.

David Blennerhassett - http://on.skr.ma/44W60Am

This podcast is provided for general informational and entertainment purposes only, and is not intended to provide financial, investment or other professional advice. Views expressed by third parties do not necessarily represent Smartkarma’s views. Smartkarma assumes no responsibility or liability for the accuracy, compliance or completeness of the podcast or the information it contains. Users should not rely on the podcast or the information it contains when making individual, business or other strategic decisions and should always consult a qualified expert or professional adviser.