Steve - I agree it seems strange that Balbec would pay for back end debt circa 42cents in the $. (ie $25m for $59m) However I sold 100's of millions at less than 10c in my time to all the Australian debt purchases so there is absolutely money in it for the CLH's of this world. In fact I never remember getting over 10cents. Plus when they bought the ACM debt of $400m there was probably a perfect portion for such a parcel to on sell in such a transaction once they ran their analytics over it. This transaction must have legs.
CLH Price at posting:
$1.22 Sentiment: Hold Disclosure: Held
