luckydog, The company probably thinks they can scrape through with a 49% sale of DBCT. I'm not so sure but then again I am not privy to their discussions with the banks. If they sell 49% only, that probably clears $500M of corporate debt. That leaves $800M still owing at the corporate level. Maybe that's manageable? I'm not so sure, that's all. I just know that corporate debt can kill a company. I'd rather sell 100% of DBCT and ensure survival. Perhaps they haven't got a buyer for 100%?
kiril has mentioned the "unknowns". The PD Ports drama with Corus came out of left field. Who would have thought the Italian enforcer would have just torn up a 10 year contract after 4 years "because the world has changed"? That is an enforceable contract but litigation will take years. BBI hasn't got years to go through court action.
BBI Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
