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  "documentTitle": "Eurofins Scientific SE (ERF)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-06-24 00:00:00",
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  "notes": "Includes photographic evidence of properties and references to Companies House records.",
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      "kind": "callout",
      "text": "In our opinion, Eurofins purchased the property from a straw party for an estimated ~€4 million premium after a nine-month holding period.",
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      "text": "Photographs of laboratory properties",
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      "text": "In 2019, while Eurofins' real estate appetite was purportedly still limited by its concern that real estate purchases would “immobilize capital...at low rates of return”, it purchased a property in the UK, 1 Dukes Green Avenue (“Dukes”), under highly questionable circumstances. In our opinion, Eurofins purchased the property from a straw party for an estimated ~€4 million premium after a nine-month holding period.",
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      "text": "In June of 2018, three individuals who appear to be real estate consultants registered Permitted Developments Investments No. 9 Limited (alt: Heathrow Dukes Green Real Estate Limited) in the UK. That November, Permitted Developments Investments No. 9 Limited (“PDI”) purchased Dukes for £11.5 million. Property transfer records reflect that at the time, PDI’s address was I54, Valiant Way, Wolverhampton. That is the same address as Eurofins Food",
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      "text": "63 Companies House Registration Permitted Developments Investments No. 9 Limited. 64 Companies House Property Transfer Permitted Developments Investments No 9 Limited, Title Number AGL49985, 11-16-18. 65 Companies House Property Transfer Permitted Developments Investments No 9 Limited, Title Number AGL49985, 11-16-18.",
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      "text": "Eurofins Buys Real Estate from a Questionable Seller Who Was Possibly a Straw Intermediary",
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