GPG have not got the balance sheet power to restructure BBP. The only entity restructuring BBP will be the banks and there is a very real possibility that they will swap debt for equity ala BNB. Existing BBP holders, myself included, would be wiped out under that scenario.
We better hope there is a decent offer on the table for the whole company otherwise it is going to be ugly.
Not what the BBP bulls want to hear but it is a possibility we must be realistic about.
Let's see what next week brings as far as GPG buying goes.
GPG have not got the balance sheet power to restructure BBP. The...
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