Bloomberg reports that DP ports parent is looking to sell a minority stake. DP is currently trading at an EV/EBITDA or around 20 and EV/Sales of around 6. Looks pricey but on that pricing the EV of PD is around 800GBP. For some unkwown reason, BBI didnt gear the guts out of this one so if you subtract 315mGBP asset level debt you get an equity value of 475mGBP which is well in excess of what markets are talking. At current exchange rates, that is around $1b AUD
Clearly a buyers market, but this one may suprise
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