re: Ann: Euroports - Co-investors take 29.7% ...
nalex - yes you are missing something.
cash released to BBI has no relationship whatsoever to book value.
the deal is a little murky in that they are issuing new equity in the vehicle in order to fund some capex and also to release a little cash back to BBI.
i am not close enough to bbi or to the assets to have a view on what it means for BBI overall, but the pricing of the equity issuance did not look like a disaster.
BBI Price at posting:
9.0¢ Sentiment: None Disclosure: Not Held
