Timber, I havn`t been keen on putting down figures because there are so many variables but if the sale goes through on an average multiple of 11.5 (giving a sale price of approx $181.9m + $9m extra at WA Gas for a total EBITDA of $190.9 x 11.5 = $2195.35) Subtract Asset debt at approx $1129 Corp debt at $518 This leaves $548m before Corp expenses, Selling commision, BAM 1%, Tax of $60m, Stamp duty and Bank gouging. There might also be cash to be taken into consideration, although this may have been used against some of the debt. There is also the $5 - $20m due to us from BBP(I think). All in all I am begining to like what I see if the sale price is at this level. This is close to the $560m mentioned in the Australian. I might also be dreaming!! Disc. Beppa options held
PIH Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
