That's not really how private investment works. It is more a strategic decision between two parties. The company is probably not worth half that but Caltex will provide equity terms favourable to Car Next Door in order to secure a position. If CND listed today it would drop like a stone.
So I think that CND would come down to the value of the DMC business and not the other way around. Either way it is a land grab that one of these companies (or a new entrant) will fight for
CL8 Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
