My view would be similar to SilentPrtnr. Ddddgggg raises a key point that I think Petrobras maintain face by keeping the headline price the same.
In effect KAR have "already" paid US$200m based on the deposit and pricing adjustment. I see the US$180 million being a cash flow payment. The original post from Stevo doesn't quite say monthly payments but does say "over 18 months".
Finally, I think the US$285 million contingent payment will be all but guaranteed to Petrobras based on current POO (or maybe a $50 benchmark).
The good news is that KAR can immediately put capital to work after the deal is closed to upgrade the infrastructure to increase flow rates etc...
either way, I'm pleased to see this milestone. It's been a long time coming. If the US$285 million payment is not quite guaranteed, then it would be a stonking good deal!
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My view would be similar to SilentPrtnr. Ddddgggg raises a key...
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