some maths which will inevitably be wrong..., page-70

25% of a behemoth could justify a stand alone I would think dott. And it seems we're fighting over just that - a behemoth. .. I'm Still thinking a spin off of ACE is the most likely scenario. Would also explain why Chile came into the picture .. adds something to AGS if it's to be stripped of its major asset.

My understanding is that you can spin off a subsidiary and there could be tax advantages in doing so .. A distribution to shareholders would keep everyone happy - including management with skin the game.