stand alone, page-7

I find it hard to believe some SDL holders could think this is a bad deal. I reckon the cashflow from GBG starting 2008-2009 virtually ensures SDL's project will get off the ground, and eliminates the risk that was present with infrastructure funding/IO prices. I'm not sure its that great for GBG, actually- was expecting a 1:1, I'm not sure how IO prices will hold up long term with the amount of extra supply that will come onto the market from 2009 onwards.