11Mes·

Voluntarily involuntarily further reducing my share of Germany

You could say that my Encavis $ECV (-0,29%) investment. Price losses of €20 are offset by dividends of €30. The bottom line is a "profit" of €10 after 3 years of holding.

Nevertheless, I have decided to sell the shares at €17.50 following the takeover offer from KKR.

The takeover is expected to take place in the 4th quarter. The share is currently trading at just under €17.

My selling price was €16.85, so the potential upside to €17.50 is only ~4%. This is roughly the same as what I receive on the call money account completely risk-free.

I would have liked to keep Encavis, but due to the circumstances this does not seem attractive to me. I have therefore (un)voluntarily given up the position and sold it today.

The only positive effect: the proportion of Germany in the portfolio is further reduced 😉

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15.03

Encavis

Venduto x152,87 a 16,85 €

2.575,15 €

0,76%

8 Commenti

Staatsmann@Staatsmann

11Mes

I bought for just under 12.xx euros and am simply continuing to hold 🤷🏼‍♂️
KKR won't bid so low that I make a loss.

Besides, it's an offer and nothing has been decided yet.

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Mister_ultra@Mister_ultra

11Mes

@Staatsmann absolutely! At 12.xx I would also be relaxed.

I have an average price of almost exactly €17. The upside of 4% on the 17.50 is not worth tying up my money until the 4Q.
I think it's unlikely that the deal won't happen. A higher amount is also unlikely, as the management and the major shareholders are all in favor.
The worry would then be to run into a squeeze-out at some point at a possibly poor price, which would then definitely lead to losses and could not be sat out.

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Sparfuchs@Reinecke

11Mes

More left for $UKW 🤷🏻‍♂️

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Epi@Epi

11Mes

All this fuss about €10? Have you calculated that as an hourly wage?

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Mister_ultra@Mister_ultra

11Mes

@Epi Encavis was definitely not a good investment.

That was the reason for the post, that was 3 years of wasted investment time.

I was convinced of the company in the long term, but now that it is being bought up, it no longer makes sense to hold on to it and will therefore be sold.

The bottom line is that I am happy to come out +-0. At the first offer from KKR at around 13.50, I would have been bought out with a significant loss

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Epi@Epi

11Mes

@Mister_ultra I can still remember when I found Capital Stage in 2005 or so and wondered about the uncollected holdings. I bought it for €2 and sold it for €3. Those were the days!

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Utente eliminato

11Mes

Il commento è stato cancellato

Mister_ultra@Mister_ultra

11Mes

@PowerWordChill In that case, I'd rather do Arnie and lean towards America 😂
But we've had this discussion before 😁

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