My take on this is that it is Duet is simultaneously selling it's 15.9% of WA Gas Networks to AETD and buying the stakes in Multinet and DBNGP and receiving repayment of it loan back (its not part of the 644m asset level debt). The 42.5m net is being held in escrow until completion. AETD sells WA Gas to ATCO and gets the whole 356m.
Amounts to be received are:
From Duet $42.5m From ATCO $356m Tas Gas Sale $225m - $342m
Net result is $0 - $123m So between zero and $0.16 per BEPPA
Questions that remain to be answered are the sale price for Tas Gas Pipeline, selling costs and what happened to Westnet Energy which was making money and had 12.5m cash per IE report.
PIH Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
