Ann: Deutsche Bank Transport Conference , page-5

Not sure if t/o is the right phrase, perhaps 'asset sale' would b more suited at this stage as they r selling partial assets not the lot unless otherwise.

Here are some figures from the DB preso:

'07-08 Revenue: $2812m (up 5%)
EBITDA: $677m (up 10%)
Debt: $4654m
Cash on hand: $120m
Total liquidity: 585m

Debt/Ebitda Multiple: $4654m/$677m = 6.87 (apprx 7x)

This multiple figure is high, as it shows company has more debt. AIO intends to bring this multiple down to 5.5 to 6.

cheers