If CER has disposed of its interest in SuperLLC for no consideration:
ie - we took on CNP's negative equity in full or - no recaptilisation plan to take advantage of CER's 25c equity in Super
there will be carnage!
CNP better be paying off its own debt in Super from the $9.4b generated from the sale without having to rely on CER's equity as the shortfall.
If there is a shortfall, CNP's SuperLLC lenders should be doing a debt for equity in SuperLLC to appease its interests, which will also preserve CER's equity of 25c in SuperLLC!!!!
This is a view I feel strongly about
If we have been stooged over with SuperLLC, there will be carnage!
Cheers
CER Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held