A 3rd party deal..., page-21

I note that OCJ do not have a blocking stake. 19.9 is just a big major shareholder.

They do however seem to have the capital and patience to withstand any threats to take FMS private if TIO get the balance of the company. So if TIO don't mind having a private equity partner it perhaps doesn't matter where OCJ sit, it's maybe just a question of how much do TIO have to pay to get enough of the rest of us?

Or alternately are TIO willing to work up a deal that has each party (TIO, OCJ, shareholders) satisfied. It doesn't require a Black Rock etc (at least as rapacious and ruthless as RIO) everything that is needed is already here.