stella debt

Not sure if this is correct or incorrectly reported but the article in The Australian today says 'Under the deal CVC absorbed $905 million of Stella debt, valuing the 65 per cent stake in the company at about $1.3 billion'

Surely if that were the case then Stella's full enterprise value would be closer to 1.8 billion, therefore making the 35% stake worth more (more like 500 mil), thus making the remaining stake worth more than $1 per share based on what people are calling a firesale price.

Has The Australian got it wrong?