if you want to discuss something......, page-5

axlsusie,

I'm getting dejavu about an argument I had with one of you about this.

Asset sales can (but do not necessarily and usually don't reduce gearing RATIO. Asset sales will reduce gearing in general but not the LVR. Note also that the asset side is reduced.

The quotation that I posted makes specific reference to LVR's and not asset sales. CER has used on a multitude of occasions (and CNP too) the terminology "asset sales". The terminology "Capital Transaction" is most curious.

They are definitely not talking about an asset sale or sales. It is either more financial engineering or some sort of divestiture or spinning off of investments. I believe this is also why there has been media speculation of the whole "trans-ocean" spin off business.

PS: I say "ocean" because I am not 100% which ocean lies to our north (Pacific?).