The Monthly Situation Monitor is a two-part monthly publication that provides summaries of every European spin-off under coverage and analyst commentary on opportunities outside the traditional spin-off space, including carve-outs, activist campaigns, strategic reviews and other special situations.

European Spin-Off Pipeline – Current coverage of announced spin-offs pending completion:

• Continental AG (CON GR) / Automotive Group – September 18, 2025
• Unilever plc (ULVR LN) / The Magnum Ice Cream Company- November 2025
• SKF AB (SKF-B ST) / Automotive Business – 1H 2026
• Aptiv plc (APTV US) / Electrical Distribution Systems Business – 1Q 2026
• Hexagon AB (HEXAB SS) / Asset Lifecycle Intelligence & Others – 1H 2026
• ABB Group (ABBN SW) / Robotics Business – 2Q 2026

European Special Situations on Our Radar – Potential restructurings, activist campaigns and other special situations:

• Diageo plc (DGE LN) – Potential sale of Ciroc, non-core stake in Moet Henessey and a history of asset sales
• Smith & Nephew plc (SN LN) – Potential sale or spin of problematic orthopedics division
• ITV plc (ITV LN) – Potential sale of studio business. Silchester International is invested
• Reckitt Benckiser plc (RKT LN) – Potential sale/spin of consumer business. Agreed to divest its EH business to Advent Interantional for ~$4.8bn for 70% stake
• Anglo American AAL (AAL LN) – Streamlining portfolio through asset sales, including platinum, nickel, coal, and De Beers, to focus on core copper, iron ore, and crop nutrient businesses.
• BP plc (BP LN) – Elliott recently took an activist role. 
• Thyssenkrupp (TKA GY) – Marine Systems spin-off by 2025, plans to separate Materials Services, Automotive Technology and Decarbon Technologies division
• Smiths Group plc (SMIN LN) – On track to sell Interconnect segment by 2025, followed by demerger/ sale of the Detection segment.
• DCC plc (DCC LN) – Announced the sale of healthcare division, intends to review strategic options for technology division – aiming to concentrate solely on energy sector. Further announced divestment of its info-tech business to Aurelius
• Stellantis (STLAM IM) – Luxury car segment Maserati under pressure. 25% tariff net impact to be €1.5 billion
• Continental AG (CON GR) – Proposed separation of ContiTech segment after Automotive spin-off
• AFRY AB (AFRY SS) – Restructuring existing five divisions into three global divisions
• Colruyt Group (COLR BB) – Exploring strategic options for its loss-making French integrated retail business
• Rheinmetall (RHM GR) – Reviewing strategic alternatives for its Power Systems division, including a potential sale or spin-off 
• Gerresheimer AG (GXI GR)- Separation and divestment of its moulded glass business as a part of strategic transformation *
• AkzoNobel NV (AKZA NA) – Investor activism shown by Cevian, disclosing a 3.02% stake valued at ~€300 million *
• Landis+Gyr Group (LAND SW) – Strategic review of underperforming EMEA business to focus on the higher-margin Americas segment. *

*  New this month

PCS Research Group welcomes and encourages your feedback.  Please feel free to call us if we can be of service.

The Monthly Situation Monitor is a two-part monthly publication that provides summaries of every European spin-off under coverage and analyst commentary on opportunities outside the traditional spin-off space, including carve-outs, activist campaigns, strategic reviews and other special situations.

European Spin-Off Pipeline – Current coverage of announced spin-offs pending completion:

• Continental AG (CON GR) / Automotive Group – September 18, 2025
• Unilever plc (ULVR LN) / The Magnum Ice Cream Company- November 2025
• SKF AB (SKF-B ST) / Automotive Business – 1H 2026
• Aptiv plc (APTV US) / Electrical Distribution Systems Business – 1Q 2026
• Hexagon AB (HEXAB SS) / Asset Lifecycle Intelligence & Others – 1H 2026
• ABB Group (ABBN SW) / Robotics Business – 2Q 2026

European Special Situations on Our Radar – Potential restructurings, activist campaigns and other special situations:

• Diageo plc (DGE LN) – Potential sale of Ciroc, non-core stake in Moet Henessey and a history of asset sales
• Smith & Nephew plc (SN LN) – Potential sale or spin of problematic orthopedics division
• ITV plc (ITV LN) – Potential sale of studio business. Silchester International is invested
• Reckitt Benckiser plc (RKT LN) – Potential sale/spin of consumer business. Agreed to divest its EH business to Advent Interantional for ~$4.8bn for 70% stake
• Anglo American AAL (AAL LN) – Streamlining portfolio through asset sales, including platinum, nickel, coal, and De Beers, to focus on core copper, iron ore, and crop nutrient businesses.
• BP plc (BP LN) – Elliott recently took an activist role. 
• Thyssenkrupp (TKA GY) – Marine Systems spin-off by 2025, plans to separate Materials Services, Automotive Technology and Decarbon Technologies division
• Smiths Group plc (SMIN LN) – On track to sell Interconnect segment by 2025, followed by demerger/ sale of the Detection segment.
• DCC plc (DCC LN) – Announced the sale of healthcare division, intends to review strategic options for technology division – aiming to concentrate solely on energy sector. Further announced divestment of its info-tech business to Aurelius
• Stellantis (STLAM IM) – Luxury car segment Maserati under pressure. 25% tariff net impact to be €1.5 billion
• Continental AG (CON GR) – Proposed separation of ContiTech segment after Automotive spin-off
• AFRY AB (AFRY SS) – Restructuring existing five divisions into three global divisions
• Colruyt Group (COLR BB) – Exploring strategic options for its loss-making French integrated retail business
• Rheinmetall (RHM GR) – Reviewing strategic alternatives for its Power Systems division, including a potential sale or spin-off *

*  New this month

PCS Research Group welcomes and encourages your feedback.  Please feel free to call us if we can be of service.

The Monthly Situation Monitor is a two-part monthly publication that provides summaries of every European spin-off under coverage and analyst commentary on opportunities outside the traditional spin-off space, including carve-outs, activist campaigns, strategic reviews and other special situations.

European Spin-Off Pipeline – Current coverage of announced spin-offs pending completion:

• Continental AG (CON GR) / Automotive Group – 2H 2025
• Unilever plc (ULVR LN) / The Magnum Ice Cream Company- 2H 2025
• SKF AB (SKF-B ST) / Automotive Business – 1H 2026
• Aptiv plc (APTV US) / Electrical Distribution Systems Business – 1Q 2026
• Hexagon AB (HEXAB SS) / Asset Lifecycle Intelligence & Others – 1H 2026
• ABB Group (ABBN SW) / Robotics Business – 2Q 2026

European Special Situations on Our Radar – Potential restructurings, activist campaigns and other special situations:

• Diageo plc (DGE LN) – Potential sale of Ciroc, non-core stake in Moet Henessey and a history of asset sales
• Smith & Nephew plc (SN LN) – Potential sale or spin of problematic orthopedics division
• ITV plc (ITV LN) – Potential sale of studio business. Silchester International is invested
• Reckitt Benckiser plc (RKT LN) – Potential sale/spin of consumer business
• Anglo American AAL (AAL LN) – Streamlining portfolio through asset sales, including platinum, nickel, coal, and De Beers, to focus on core copper, iron ore, and crop nutrient businesses.
• BP plc (BP LN) – Elliott recently took an activist role. 
• Thyssenkrupp (TKA GY) – Marine Systems spin-off by 2025, plans to separate Materials Services, Automotive Technology and Decarbon Technologies division
• Smiths Group plc (SMIN LN) – On track to sell Interconnect segment by 2025, followed by demerger/ sale of the Detection segment.
• DCC plc (DCC LN) – Announced the sale of healthcare division, intends to review strategic options for technology division – aiming to concentrate solely on energy sector.
• Stellantis (STLAM IM) – Luxury car segment Maserati under pressure
• Continental AG (CON GR) – Proposed separation of ContiTech segment after Automotive spin-off
• AFRY AB (AFRY SS) – Restructuring existing five divisions into three global divisions
• Iveco Group N.V. (IVG IM) – Plans to sale/ spin-off its Iveco Defence Vehicles (IDV) unit amid defense sector boom in Europe.
• Colruyt Group (COLR BB) – Exploring strategic options for its loss-making French integrated retail business

PCS Research Group welcomes and encourages your feedback.  Please feel free to call us if we can be of service.

The Monthly Situation Monitor is a two-part monthly publication that provides summaries of every European spin-off under coverage and analyst commentary on opportunities outside the traditional spin-off space, including carve-outs, activist campaigns, strategic reviews and other special situations.

European Spin-Off Pipeline – Current coverage of announced spin-offs pending completion:

• Holcim Ltd. (HOLN SW) / Amrize Ltd. (North American Business) – 1H 2025
• Continental AG (CON GR) / Automotive Group – 2H 2025
• Unilever plc (ULVR LN) / The Magnum Ice Cream Company- 2H 2025
• SKF AB (SKF-B ST) / Automotive Business – 1H 2026
• Aptiv plc (APTV US) / Electrical Distribution Systems Business – 1Q 2026
• Hexagon AB (HEXAB SS) / Asset Lifecycle Intelligence & Others – 1H 2026
• ABB Group (ABBN SW) / Robotics Business – 2Q 2026

European Special Situations on Our Radar – Potential restructurings, activist campaigns and other special situations:

• Diageo plc (DGE LN) – Potential sale of Ciroc, non-core stake in Moet Henessey and a history of asset sales
• Smith & Nephew plc (SN LN) – Potential sale or spin of problematic orthopedics division
• ITV plc (ITV LN) – Potential sale of studio business. Silchester International is invested
• Reckitt Benckiser plc (RKT LN) – Potential sale/spin of consumer business
• Anglo American AAL (AAL LN) – Streamlining portfolio through asset sales, including platinum, nickel, coal, and De Beers, to focus on core copper, iron ore, and crop nutrient businesses.
• BP plc (BP LN) – Elliott recently took an activist role.  Rumored to be acquired by Shell.
• Thyssenkrupp (TKA GY) – Marine Systems spin-off by 2025, plans to separate Materials Services, Automotive Technology and Decarbon Technologies division
• Smiths Group plc (SMIN LN) – On track to sell Interconnect segment by 2025, followed by demerger/ sale of the Detection segment.
• DCC plc (DCC LN) – Announced the sale of healthcare division, intends to review strategic options for technology division – aiming to concentrate solely on energy sector.
• Stellantis (STLAM IM) – Luxury car segment Maserati under pressure
• Continental AG (CON GR) – Proposed separation of ContiTech segment after Automotive spin-off
• AFRY AB (AFRY SS) – Restructuring existing five divisions into three global divisions
• Iveco Group N.V. (IVG IM) – Plans to sale/ spin-off its Iveco Defence Vehicles (IDV) unit amid defense sector boom in Europe.
• Colruyt Group (COLR BB) – Exploring strategic options for its loss-making French integrated retail business

PCS Research Group welcomes and encourages your feedback.  Please feel free to call us if we can be of service.

The Monthly Situation Monitor is a two-part monthly publication that provides summaries of every European spin-off under coverage and analyst commentary on opportunities outside the traditional spin-off space, including carve-outs, activist campaigns, strategic reviews and other special situations.

European Special Situations on Our Radar – Potential restructurings, activist campaigns and other special situations:

• Diageo plc (DGE LN) – Potential sale of Ciroc, non-core stake in Moet Henessey and a history of asset sales
• Smith & Nephew plc (SN LN) – Potential sale or spin of problematic orthopedics division
• ITV plc (ITV LN) – Potential sale of studio business. Silchester International is invested
• Reckitt Benckiser plc (RKT LN) – Potential sale/spin of consumer business
• Anglo American AAL (AAL LN) – BHP has previously attempted a takeover and divestitures have been proposed
• BP plc (BP LN) – Elliott recently took an activist role
• Thyssenkrupp (TKA GY) – Upcoming sale or spin-off of marine division, exploring exit options for materials services
  business
• Smiths Group plc (SMIN LN) – Smiths Group plc has announced plans to break up its business following sustained pressure from the activist investor Engine Capital
• DCC plc (DCC LN) – DCC announced the sale of its healthcare division and its intentions to review strategic
  options for its technology division, aiming to concentrate solely on the energy sector.
• Stellantis (STLAM IM) – Luxury car segment Maserati under pressure
• Continental AG (CON GR) – Proposed separation of ContiTech segment after Automotive spin-off

European Spin-Off Pipeline – Current coverage of announced spin-offs pending completion:

• Holcim Ltd. (HOLN SW) / Amrize Ltd. (North American Business) – 1H 2025
• Continental AG (CON GR) / Automotive Group – 2H 2025
• Unilever plc (ULVR LN) / Ice Cream Business – 2H 2025
• SKF AB (SKF-B ST) / Automotive Business – 1H 2026
• Aptiv plc (APTV US) / Electrical Distribution Systems Business – 1Q 2026
• Hexagon AB (HEXAB SS) / Asset Lifecycle Intelligence & Others – 1H 2026
• ABB Group (ABBN SW) / Robotics Business – 2Q 2026

PCS Research Group welcomes and encourages your feedback.  Please feel free to call us if we can be of service.

The Monthly Situation Monitor is a two-part monthly publication that provides summaries of every European spin-off under coverage and analyst commentary on opportunities outside the traditional spin-off space, including carve-outs, activist campaigns, strategic reviews and other special situations.

European Special Situations on Our Radar – Potential restructurings, activist campaigns and other special situations:

• Diageo plc (DGE LN) – Potential sale of Ciroc, non-core stake in Moet Henessey and a history of asset sales
• Baloise Holdings AG (BALN SW) – Activist Cevian Capital owns 9% and pushing for the sale of non-Swiss insurance assets
• Smith & Nephew plc (SN LN) – Potential sale or spin of problematic orthopedics division
• ITV plc (ITV LN) – Potential sale of studio business. Silchester International is invested
• Reckitt Benckiser plc (RKT LN) – Potential sale/spin of consumer business
• Anglo American AAL (LN BHP) – has previously attempted a takeover and divestitures have been proposed
• BP plc (BP LN) – Elliott recently took an activist role
• Thyssenkrupp (TKA GY) – Upcoming sale or spin-off of marine division
• Smiths Group plc (SMIN LN) – Smiths Group plc has announced plans to break up its business following sustained pressure from the activist investor Engine Capital
• DCC plc (DCC LN) – Announced intentions to sell its healthcare division and review strategic options for its technology division, aiming to concentrate solely on the energy sector

European Spin-Off Pipeline – Current coverage of announced spin-offs pending completion:

• Holcim Ltd. (HOLN SW) / Amrize Ltd. (North American Business) – 1H 2025
• Continental AG (CON GR) / Automotive Group – 2H 2025
• Unilever plc (ULVR LN) / Ice Cream Business – 2H 2025
• SKF AB (SKF-B ST) / Automotive Business – 1H 2026
• Aptiv plc (APTV US) / Electrical Distribution Systems Business – 1H 2026
• Hexagon AB (HEXAB SS) / Asset Lifecycle Intelligence & Others – 1H 2026
• ABB Group (ABBN SW) / Robotics Business – 2Q 2026

PCS Research Group welcomes and encourages your feedback.  Please feel free to call us if we can be of service.

The monthly European Spin-Off & Restructuring Report Calendar provides a brief snapshot of every European spin-off in progress, including a summary of our opinion and valuation, critical dates, transaction details and a brief analysis of business segments.

The monthly European Spin-Off & Restructuring Report Calendar provides a brief snapshot of every European spin-off in progress, including a summary of our opinion and valuation, critical dates, transaction details and a brief analysis of business segments.

The monthly European Spin-Off & Restructuring Report Calendar provides a brief snapshot of every European spin-off in progress, including a summary of our opinion and valuation, critical dates, transaction details and a brief analyses of business segments.

Above, please find The European Spin-Off & Restructuring Report Calendar for June 2021.