I dont know how much less, you would need to ask KM. In theory...

I dont know how much less, you would need to ask KM. In theory it could be more. There is no transparency in this sale so hard to tell

the release says the sale gave it an 'enterprise value' of US1.23B

this will not be the sale price

from the web
https://valueandopportunity.com/2012/07/03/how-to-correctly-calculate-enterprise-value/
"definition of ‘Enterprise Value – ’
A measure of a company’s value, often used as an alternative to straightforward market capitalization. Enterprise value is calculated as market cap plus debt, minority interest and preferred shares, minus total cash and cash equivalents."

the employee liabilities they take on would have to be in the debt column so they wouldnt be paying that. I think the number is a headline number to make it seem good.

what we really want to know is net cash to arrium, good luck with that.
Th efact that KM wont be doing any company finance reporting means they dont want any transparency in the process.