campaign against aet&d sale, page-52

Has me baffled so just reposting these two from aet&d thread


Rick.Wills99
Post #: 6926053
09/07/11 20:50
My take on this is that it is Duet is simultaneously selling it's 15.9% of WA Gas Networks to AETD and buying the stakes in Multinet and DBNGP and receiving repayment of it loan back (its not part of the 644m asset level debt). The 42.5m net is being held in escrow until completion. AETD sells WA Gas to ATCO and gets the whole 356m.

Amounts to be received are:

From Duet $42.5m
From ATCO $356m
Tas Gas Sale $225m - $342m

Amounts to be paid:

Corporate Debt $518m
Costs $100 (from earlier posts)

Net result is $0 - $123m
So between zero and $0.16 per BEPPA

Questions that remain to be answered are the sale price for Tas Gas Pipeline, selling costs and what happened to Westnet Energy which was making money and had 12.5m cash per IE report.




billbu
Post #: 6934351
12/07/11 15:14
My take on the figures.
Sale prices WAGN $741, Tas Gas $342, Westnet 0, Multinet $236 DB Gas pl $666. Total $1985
Asset Debts. WAGN $498, Multinet $202, DB Gas pl $535. Total $1235
Corp Debt $561
$1985 minus all debts = $189. Add on cash of $54 = $243

From $243 Beppa holders get $20 and the rest is costs.
So costs are in the region of $223m

A breakdown of costs is hard to do but there is $60 Tax,
$20 to BAM, Duty could easily be $60, Selling commision of approx $30, forex costs(if any), bank gouging costs and miscellaneos costs of $53.

Very poor result for us, but Im sure the banks, accountants and selling agents have done very well.