Added to YB: 2021-05-13
Pitch date: 2021-05-13
MIC [bullish]
Macquarie Infrastructure Holdings, LLC
+44.67%
current return
Author Info
Clark Street Value is a special sits/event-driven investor. Sign up for the newsletter.
Company Info
Macquarie Infrastructure Holdings, LLC, together with its subsidiaries, operates as an energy company that processes and distributes gas, and provides related services to corporations, government agencies, and individual customers.
Market Cap
$364.0M
Pitch Price
$2.83
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
-1.28
EV/Sales
N/A
Sector
Gas Utilities
Category
special_situation
Macquarie Infrastructure: Liquidation, Possible Forced Selling Later
MIC liquidating: Atlantic Aviation worth $36/share at 16x EBITDA, Hawaii Gas $4.40 at 8x. Proforma cash $250M. Mgmt gets $378M fee. Sum-of-parts ~$39/share (17% upside). Key risks: Hawaii Gas regulatory approval, tax implications of partnership conversion. Potential forced selling around special dividend.
Read full article (4 min)