Signs that the global economy was beginning to open up has fomented a rebound in the stock of Hong Kong-headquartered holding company Jardine Matheson Holdings (LSE:JAR, Financial), which controls a diversified collection of business franchises predominantly across Greater China and Southeast Asia. Another positive development for the stock during the quarter was the company's announce-ment that it would acquire the shares it didn't already own in sister company Jardin Strategic Holdings. Upon the deal's completion, expected by the end of April, Jardine Matheson will be the sole holding company for its subsidiaries, a simpler structure that should result in greater operational efficiency and balance sheet flexibility.
From First Eagle Global Income Builder Fund's first-quarter 2021 commentary.
