Who say it is more?? If you have read my comments I have noted it correctly:
Deal vs tgs drc assets (all operations):
+ cash 250 mn
+ royalties max. 20mn
+ 10 mn as liabilities
= 280 mn in total
With that money all debts (min. 208mn) should be paid down..
And other liabilities (20-30mn) ..
And in the end max. 30-42mn left as net cash.. whereas the shares will have much lower capitalisstion on the market because a "no return of investment" (non-operating tgs!)!
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- Ann: Tiger signs binding agreement to divest DRC operations
Ann: Tiger signs binding agreement to divest DRC operations, page-28
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