At last BSL has managed to sell a business and then pay down some debt. Not an easy thing to achieve when the vultures are circling. At least they have sold this at above book value and will realise a $9M profit in the current year. Better than a fire sale and selling assets below book value, which they have done in the past few years. The downside is that this is selling off a coated building product business, which is really a core of the company. But company is forced to make some ST sacrifices in their current dire circumstance. I would expect to see a few more businesses sold as they cannot go back to the capital raising well again.
good luck to all holders
BSL Price at posting:
$2.38 Sentiment: Hold Disclosure: Held
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