"Does anyone really feel this deal is better than the aborted IPO?"
It's not even half as good as the spin off initially planned on the Bovespa, but in reality the game has changed. Global economy is uncertain, and the big players are looking to divest alot of non core projects, not take on more exploration risk and costs.
Simply a cyclical deal. The IPO was probably overvalued at that time, like most stocks. I believe it was $770 mil for 40% of Brazil, so yes ofcourse it's better than the $180 mil (possibly $250 mil) for 35%. That said the farm in does lower KAR's risk profile a little bit.
brazil !!!, page-24
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Last
$1.83 |
Change
0.015(0.83%) |
Mkt cap ! $1.466B | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.86 | $1.82 | $9.850M | 5.367M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 38837 | $1.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.84 | 22163 | 2 |
View Market Depth
| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |