I'm in the same boat as you, i have no idea how the deal will be structured (although as long as it is signed as a MAK shareholder i don't particularly care).
However, when they said they were going to use LCY as their exclusive vehicle for acquisition is it possible they meant for projects where they will have 100% ownership? rather than JV agreements?
Also, i'm not sure that the Indians would consider it losing face if they sign an agreement that they have already announced their intention to proceed with. If this MOU/JV had only just been speculated recently (post official LCY announcement) you would be spot on IMO - but because the MOU was signed many months ago i'm not so sure that they will be concerned with that.
All speculation i suppose for the next week/s/month!
AEV Price at posting:
35.5¢ Sentiment: LT Buy Disclosure: Held
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