DUE paying $122.5 Million + 25.9% of WAGN to get 20% of DBP and...

DUE paying $122.5 Million + 25.9% of WAGN to get 20% of DBP and 20.1% of Multinet. IE they are paying around $225 Million to get $350 Million of value (less transaction costs).

So they are the big winners out of this transaction.

They look like getting a hell of a lot more than BEPPA holders.

Someone must have thought their pre-emptives had some value - how else could you explain such value transfer.

The lenders will undboutedly be getting some, if not all of the corporate debt repaid, so brookfield will have kept them happy (10 points off the next transaction- they look after the banks).

Nice day out for Brookfield - have got their 1% + management fees paid out.

But what will be left for BEPPAs ....