worthwhile move Bronte- BEEPA is apparently ranked ahead of the corporate debt with regard to the AETD assets.
Bronte have a brokers valuation the AETD are worth between 93 and 491 million after hold co debt but before transaction costs and Duet has first rights over the assets except The Tasmanian Gas pipeline. The net return will be betweeen zero and 391 million with no liquidity in BEEPA while the mess is sorted out.
IMHO it is likely the Beppa holders would be left with the Tasmanian pipeline sevicing one power plant and about 6000 customers in tasmania if we are lucky.
To vote YES would maintain 333 million in value in a traded entity. Bronte want more from BAM but this would require more from the intos and the SPP takers when the local institutions were reportly reluctant to take up the issue.
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