a request to bigbillbrown

Dear Bigbillbrown,
Firstly, I have a tremendous respect for your factual and logical interpretations on matters of Conti. I am a holder of Conti shares. I always seek out your posts to evaluate the risk side of holding Conti shares. Thank you so much for your stimulating inputs.

I was thinking about one of your important concerns - this is about the South African subsidiary not being able to upload cash from operations to the holding company CCC. Where I need your feedback is if your concersns grow less on this matter with the following scheme.

Please take a look at the following recent enough article where Tata Power bought a 26% stake in an Indonesian coal miner.
http://www.financialexpress.com/news/tata-power-picks-stake-in-another-coal-miner/1029062

Tata Power is also keen to have similar kind of interests in South Africa. So do many others like Reliance Power, Coal India, RP Goenka, NTPC. Suppose one of them come up with a similar stake purchase offer to CCC - that they would want to purchase, let us say, an approximate one-third of CCC's stake in South African interests for a lumpsum of, let us again assume, of $75m -$125m. The exact cash figure is not important but we assume that it is a sizable lumpsum. So the South African businees ownership structure changes from '26% Sioc + 74% subsidiary' to '26%Sioc+49% subisidiary+25% Tata Power'

I would think after a stake sale like this, the holding company CCC should be able to access this lumpsum cash as it is not coming from the operation from the subsidiary.

Would a scheme like this reduce your concern about holding company CCC's access to finance?