Thanks, so as per your calculation buyer will save $114m per year right?
At 5% they need to pay $3B x 5% = $150m per year to banks.
Let’s say EBITDA for FY 10 /11 is something between 300m – 350m (Provided no gas explosion in WA like this time and increased utility bill price)
Total no of shares issued ATM = 726.33M
So, earn per share (300 -150)/ 726.33 = 0.20c (With EBITDA 300m)
Or (350 -150)/ 726.33 = 0.275c (With EBITDA 350m)
For FY12, if EBITDA become $450m then
Earn per share will be (450-150)/ 726.33 = 41c
Please correct me if I am wrong, but buyers did definitely consider these figures before putting a bid (And remember BBP shortlisted few parties, some interested in parts & some for whole business).
40c is a reality just considering its earnings.
But considering (Asset + earnings) buyers need to consider paying at least 50c per share (Even in this market condition).
Above are just my views, please DYOR
BBP Price at posting:
10.0¢ Sentiment: ST Buy Disclosure: Held