A good price was needed for these assets as they make up more than half of RFG's ebitda , so the banks said no to a fire sale offer. Best they grow these assets before trying again. A slowdown in consumer spending on falling house prices could impact RFG and new store/outlet openings. A new investor is going to want to pay less than the 6.8 times EV/ Ebitda RFG is trading at. A potential class action by franchisees and investors against RFG on their business practices still a possibility after the inquiry.
Ann: Update on Asset Sale Process, page-19
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