AFG australian finance group ltd

ann out, page-24

  1. 273 Posts.

    guys, the banks have taken security over all of allco's assets.

    it has been made entirely clear that allco will sell some non-core assets below book value.

    the idea is to get debt down to $400m by selling all the crap, and leaving allco with as much of the quality assets as possible, which i suspect the banks will still have security over.
 
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