beppa, page-13

Could be right on re AUD - hope they manage this appropriately for BEPPA holders because if I recall correctly they still have another two years before they need to sell?

AUD up ~ 30% in recent times - surely cannot be sustained?

I estimated earlier that BEPPAs were looking at say $100 to $140 mill on this basis.

Very basic maths say a worst case is 30% decrease of sale price of say $1,700 mill = $500 mill price variation.

If we take the $500k in to account (worst case) then $0 BEPPAs

Brookfield's commission however only decreases from $17 million to $12 million.

Unfortunately their best interests do not align with BEPPA holder's interests.

Would be good if we could somehow pay a higher commission for a higher sale price as this would benefit BEPPAs but I have no idea how this could occur?

Patrick seems a reasonable chap so let's hope he can work the deal.