They have the option to extend after 15 years for another 5 the...

They have the option to extend after 15 years for another 5
the sum of all parts still greater than what the company trades at.

PE is circling, they initiate talks with Standard Australia in the last few weeks according to AFR
if they like what they hear a bid is sure coming else it still a value play.

PE make a move that means the business can be restructured and broken up to be more efficient and more profitable.

How much can they get out of it? going by PE standard at least double the money of what they put in for 3-5 years time frame.