As you may have read I had been made aware of an offer made by European Group to acquire management rights of PIF.
The approach came from a group who run 8 divisions with each division larger than OCV/PIF
The group themselves I understood to be owned by a european bank.
It is my understanding that they wished to enter Aussie mkt and the proposal included giving OCV equity in their new Australian operation.
ie smaller share of a bigger pie.
OCV instead have granted option to sell PIF to Hudson for 4 times net profits from managment of PIF and the net assets of the RE not PIF.
This is very smelly and a disgrace
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- this is absolutely disgrace
OCV
octaviar limited
this is absolutely disgrace, page-11
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