I think the VLW share of the unrecognised Donnybrook receivable is about $35-40m gross. Total Donnybrook cash out was 100m VLW at 50% and some cash received already. The margins in the Donnybrook sale were excellent. Pretax I think it’s worth at least 10c per share in pretax profits to us VLW shareholders.
I donn’t think the bidder is very serious, yet. Would be interesting to see if the would be bidder isstumping up for an adviser or it’s just talking though their hat.
f they wan’t a developer at a fire sale price they should take on Devine. Been a dog for a long long time. VLW is well run price of gear.
VLW Price at posting:
$2.27 Sentiment: Hold Disclosure: Held
