I love how you address head on questions that your readers might have.
According to Bloomberg consensus estimates, IMB LN trades at 6x forward adj earnings, whereas LOG SM trades at a bit less than 11x. The obvious question is why doesn’t Imperial sell its stake. You provide 2 reasons — cheap short term financing and hedging declining cigarette volumes.
Thank you, Tian. With full context, it makes total sense why Imperial pared down its stake from the initial size and retained 50.1% - Retaining full control while the sub has independent leadership, allowing both to focus on their core competencies. It's terribly sensible and symbiotic.
great write-up !
Thank you, Andrea.
I’ve owned IMB for years and never knew about Logista.. thanks.
Thanks for reading, Christian.
I love how you address head on questions that your readers might have.
According to Bloomberg consensus estimates, IMB LN trades at 6x forward adj earnings, whereas LOG SM trades at a bit less than 11x. The obvious question is why doesn’t Imperial sell its stake. You provide 2 reasons — cheap short term financing and hedging declining cigarette volumes.
Thank you!
Thank you, Tian. With full context, it makes total sense why Imperial pared down its stake from the initial size and retained 50.1% - Retaining full control while the sub has independent leadership, allowing both to focus on their core competencies. It's terribly sensible and symbiotic.