Abu Dhabi meeting with CEO, page-7

Here you go mate...

Departed Quintis founder Frank Wilson and his advisor, Goldman Sachs, will meet with a prospective partner on Friday understood to be the Abu Dhabi Investment Council.
Wilson is following through on his promise to take back the company after his sensational resignation in the wake of a savage attack at the hands of short sellers. Wilson is a substantial shareholder of the former TFS in his own right and the appointment of Goldman last week lends credibility to his cause.

UBS is working for Quintis.

Friday's meeting in Perth won't be the first time Wilson and the investment arm of the Abu Dhabi government cross paths. The institution is an investor in Quintis managed sandalwood plantations, thought to be the Middle Eastern sovereign wealth fund that was a key backer around 2010.
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Other partners that have been linked to Wilson's comeback bid include private equity giant KKR. Quintis owns and manages Indian sandalwood plantations up near Kununurra in Western Australia and, as luck would have it, so too does KKR via its controlling stake in Santonol Group.

Then there's Lindsay Goldberg, a New York-based private equity firm which made a withdrawn conditional cash offer of $0.85 a share in 2012.

Regal Funds Management, which has a long position in Quintis, has already said it wants to see a bid north of $2 a share. Wilson is also thought to be in communication with Quintis major bondholder Blackrock, which is likely to participate in any bid given it owns a chunk of the more than 50 million still active warrants issued in 2011 with a strike price of $1.28 a share. They remain out of the money at current levels.

Meanwhile, question marks hang over some aspects of the Quintis business. It has not updated the market since revealing in March that its biggest customer in China had not placed a single order this year. Separately, a major plantation investor is sitting on a put option expiring at the end of this month worth more than $30 million cash if it chooses to sell its trees back to the company.

Some observers are still unclear why Wilson elected to resign from his post at all.