Let's get back to the real world.
Recent History of AZZ deals:-
29/11/10 Yellow Rose and Bluebonnet was sold. AND.19/04/13 The remainder of the shale area,Hawkville was sold.
Point to note was, very little tax was paid due to future activity in the O&G sector in the USA
It wasn't until the 31/3/11 that the Pemian aquisitions commenced ( Around 4 months lapsed)
Final major aquisition in the Permian was 26/4/11.
The areas were named, as we all know:- Southern Star, Northern Star, and Big Star.
Southern Star sold last year, with enough cash to square up the Macquarie facility( At one stage the draw down was $50 million). And the unwise investment in Breitburn.
Point to note also , little tax paid.
Latest purchase & sales agreements will attract a large tax bill ,(As indicated on a ASX release) in the order of tens of millions. WHY?
My point to those that are ringing James C
Ask what the company will be doing post the sale of Nortern Star and/or BigStar
Maybe AZZ is quitting USA.
Lots of opportunity in Australia if you wave cash around at the moment.
I am getting bored with the AZZ threads in progress on HC, basically pointless arguing. Hence this thread is to try and inspire a new line of discussion.
Cheers IFINO
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