FDV's at the stage where they are trying to separate the wheat from the chaff.
From the limited amount we understand about the individual businesses it's clear that Propzy is far from being profitable - the June half year presentation gives a sense of this. Sure, it may eventually turn out to be a valuable business but that's far from certain.
For what it's worth I'm comfortable holding the 6 businesses that were EBITDA-positive last quarter plus any others that are not far off, and for management to sell they don't feel are likely to make the grade.
Ann: Sale of Propzy shareholding accelerates profitability, page-3
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