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8,483 Posts.
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17/09/10
11:22
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If Orbis state that the remaining business is worth 20-30c, that equates to $240-360M.
If SIP have $800M debt in total and are going to sell the other part of the business to Aspen for $900M, that is a net surplus of $100M.
If the bank's lending covenant is breached, then the banks may demand full repayment.
So the remaining value would be $340-460M or roughly 30-40c per share. So is SIP currently overvalued?
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