High-quality asset at deep value prices

An infrastructure asset with healthy growth at a >30% FCF yield?

Hello, Ultimate Value readers!

I am back with a new idea today. Here are some of the takeaways:

• The stock is listed in an emerging market.

• It has a market cap of USD 3.3B and an EV of USD 2.5B.

• This high-quality business has stable, predictable, and growing earnings.

• The company has two distinct share classes. While both are compelling, the discounted share class trades at >30% FCF yield, with earnings that should continue to grow at a HSD rate.

Let’s take a look.