sale of cawse power station, page-9

I agree that this transaction was a minor step in the right general direction at best but the point I was raising was that on 23 June the company announced that it had received a number of indicative non-binding for part and the whole of the company.

This being the case, it means that the company has in fact received indicative offers for the company which at the time (just 3 weeks ago) included the Cawse power station.

So, my question is why would you then sell this power station, even though doing so makes sense for number of reasons that you stated, just two weeks prior to the due date of final bids?

Surely the final bid(s) are likely to be higher than the indicative bids especially with the competitive tension...remember they have received a number of bids...

So, this transaction was obviously not a move to reduce debt as part of piecemeal solution. If this was the case, why not sell say Breamer which just last month was independently valued at upwards of 500m by UBS?

And, again they most certainly would have received offers this as well as other major assets capable of putting a serious dent into the debt burden, yet they have not sold any of those why would they when final bids are not even due for another two/three weeks?

I suspect, this it might have been done at the request of the consortium lead by Origin Energy to facilitate a full take-over but I am merely speculating...