ngpl

BBI bought this asset in the USA in late 2007. Some have said that BBI paid inflated prices for their assets and therefore book value is not realistic. I say "Rubbish!"
BBI paid 10.7x EBITDA for NGPL. SEC Gas transacted in April 2007 for 14x EBITDA. I think BBI did very well paying 10.7x EBITDA for NGPL. It is performing very well for them. BBI has never paid 14x EBITDA for any asset. 10.7x was a very astute buy.