"The net proceeds (after associated transaction costs) from the sale will be applied to the repayment of debt and to payments associated with the WestNet Rail minority position"
Taken from the PowerCo completion announcement. They had to pay to obtain the remaining 24%, plus top up the payout of the $66m mzzanine debt. $40m of the $66m came from withdrawing funds from the grain reserve account in WestNet.
Cheers
BBI Price at posting:
9.5¢ Sentiment: LT Buy Disclosure: Not Held