MGC Breakup., page-47

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Amused observer

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15/09/17

17:13

Post #: 27252810
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Originally posted by Cabaking ↑

Nice observation.

Look I think it is a combination of both.

I don't think it is a surprise bankers are worried about their debt given the milk loss

It is clearly their main focus much to farmers dislike as they were told rubbish from last mgnt they could gear up and debt is no issue

It blows my mind farmers saying gearing isn't that high and company worth x y and z.

So yes debt is a focus of selling but also there is a serious objective to sell the company to get highest price and everyone move on from the mgc disaster

You and I know if mgc goes under this will be a disaster for the dairy industry. politicians are watching very closely as they want a smooth change of ownership and no blood on the streets

I believe (opinion only) Ari and chairman were bought into firstly stabilise the company and then sell it. The reputational damage is just to great and irreversible.

IF no sale Ari has a plan b which he is working on everyday ie reduce cost base to fit with milk supply

He does have good people around him now. SO first priority and best outcome for all stakeholders is sell but if not we grind on and get the debt down fast

I have dealt with Deutsche guys and like I say irrespective of the debT connection they are the people I waNT running the sale process

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You and I are pretty much in agreement but don't let others know and don't ruin a good healthy debate on Hotcopper.

Have a good weekend.

MGC Price at posting: 73.5¢ Sentiment: None Disclosure: Not Held
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