dex,
that was my first reaction.
I think they see MEL as a value proposition, much the same way that RLMS invested in SHG. I think RLMS were in and out in about 12 months.
Clearly LNG wont be needing this capital in the near term (6-12 months), so if anything it says that THEY are not doing much for a while. There is a potential liability there, in that they may also need to sell one day.
Hence, if you weigh up some of LNG Ltds future risks into the equation, it becomes clear that they must have seen CLEAR VALUE in going for MEL.
If it is trully an investment, I dont think you could find a better sign of things to come out there for MEL.
If it something else. Likewise. I am struggling to see any bad angles on it other than the one mentioned above.
Cheers,
SF
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