Zenitramzepol,
you need to reread it:
The A$750 million is made up of: 60% purchase + Convertible Notes Issue.
A$750 is NOT obtained just from the 60% stake in the US business.
(this is stated at the bottom of the first page in note 1).
100% value of the US Business is $775million US.
Morgan Stanley will buy 60% of this = $465M US
In Australian Dollar Terms @ 0.925 = $500M AUD
ABS seem to believe that the convertible notes will raise an additional $250 million. These represent 10% of the company's worth.
BUT! the company is currently worth $1 Billion.
So what I don't understand is: How does a 10% stake in the company earn them $250mill...it would be more like $100m
Good luck to all holders
Joel
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