InvestNow News – 10th September – Elevation Capital Global Shares Fund – August 2021 Update
Update by Elevation Capital – For August 2021
VIEW THE ENTIRE GLOBAL SHARES FUND PORTFOLIO
Australia’s Ampol (owner of Gull) has offered $3.78 per share to acquire an Elevation Capital Global Shares Fund holding – Z Energy. The Fund identified an opportunity to invest in Z Energy on the back of our investment in Refining NZ (Channel Infrastructure).
The takeover offer has not yet been recommended to shareholders as concerns around monopolistic power from the Commerce Commission and valuation need to be finalised. Ampol now has a window of exclusivity to conduct due diligence. Z-Energy’s share price has risen ~20% since the potential acquisition was announced.
If the acquisition finalises, it will be the Elevation Capital Global Shares Fund’s second takeover of the year. We announced in August 2021 that Zooplus, which we held an investment in since 2019, was acquired by U.S. Private Equity firm – Hellman & Friedman. The Fund has a long history of our holdings becoming takeover targets as a key part of our initial valuation framework explicity focuses on what an experienced industry participant or financial buyer might pay to acquire 100% of a company based on historcial transaction multiples.
The Elevation Capital Takeover Timeline is detailed below:
Elevation Capital launched its first-ever advertising campaign on 31 July 2021.
Please find detailed below our first advertisements which will now appear fortnightly in The Weekend Herald – Business Section. The next instalment is scheduled for
18 September 2021.
Elevation Capital was deeply saddened by the passing of long-term investor, friend, and frequent office visitor Billy Apple.
Billy Apple epitomised visionary and creative thinking. He was intellectually curious, and his attendance and support across the arts sector was renowned. He opened doors for younger artists to practice contemporary art and led artists to interact with museums and galleries differently.
He operated at a conceptual level that transformed contemporary art practice, forging interdisciplinary relationships with science, geography, and finance. He engaged and challenged like few others, and enhanced New Zealand’s arts and cultural standing in a global context by being genuinely international.
Billy will be fondly remembered and deeply missed by the team at Elevation Capital.
Rest in Peace Billy.
InvestNow News – 10th September – Elevation Capital Global Shares Fund – August 2021 Update
Update by Elevation Capital – For August 2021
VIEW THE ENTIRE GLOBAL SHARES FUND PORTFOLIO
Australia’s Ampol (owner of Gull) has offered $3.78 per share to acquire an Elevation Capital Global Shares Fund holding – Z Energy. The Fund identified an opportunity to invest in Z Energy on the back of our investment in Refining NZ (Channel Infrastructure).
The takeover offer has not yet been recommended to shareholders as concerns around monopolistic power from the Commerce Commission and valuation need to be finalised. Ampol now has a window of exclusivity to conduct due diligence. Z-Energy’s share price has risen ~20% since the potential acquisition was announced.
If the acquisition finalises, it will be the Elevation Capital Global Shares Fund’s second takeover of the year. We announced in August 2021 that Zooplus, which we held an investment in since 2019, was acquired by U.S. Private Equity firm – Hellman & Friedman. The Fund has a long history of our holdings becoming takeover targets as a key part of our initial valuation framework explicity focuses on what an experienced industry participant or financial buyer might pay to acquire 100% of a company based on historcial transaction multiples.
The Elevation Capital Takeover Timeline is detailed below:
Elevation Capital launched its first-ever advertising campaign on 31 July 2021.
Please find detailed below our first advertisements which will now appear fortnightly in The Weekend Herald – Business Section. The next instalment is scheduled for
18 September 2021.
Elevation Capital was deeply saddened by the passing of long-term investor, friend, and frequent office visitor Billy Apple.
Billy Apple epitomised visionary and creative thinking. He was intellectually curious, and his attendance and support across the arts sector was renowned. He opened doors for younger artists to practice contemporary art and led artists to interact with museums and galleries differently.
He operated at a conceptual level that transformed contemporary art practice, forging interdisciplinary relationships with science, geography, and finance. He engaged and challenged like few others, and enhanced New Zealand’s arts and cultural standing in a global context by being genuinely international.
Billy will be fondly remembered and deeply missed by the team at Elevation Capital.
Rest in Peace Billy.
