LSX 3.42% 56.5¢ lion selection group limited.

Status of OAR, page-4

  1. 66 Posts.
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    How is it that OAR have gone from 100% interest in Pani to investing $4M alongside Provident and they only end up with 33% of a JV special purpose vehicle?

    Is this a case of better something than nothing? I.e. Take 33% of the JV and seed control to Provident because they have "the connections" to overcome Indonesian corruption.

    Seems like a bad deal, unless there is more to the story that OAR can announce to the market. I suppose they can hardly come out and say - the system is screwed here, the KUD can do what ever they like regardless of our contractual agreements. We've done a deal that will let an Indo company grease the palms of the right people to get a deal done. Its that or nothing, because we are not getting anywhere with these locals.

    A lesson in sovereign risk.
 
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