Property sale bolsters AAco
The group has 26 properties, valued on its books at about $800 million, and some 600,000 head of cattle, worth about $400 million, against $400 million of debt - yet its market capitalisation is less than $500 million.
AAco is hoping that the heads of agreement signed with specialist rural investor Primary Holdings International will produce a re-rating of its shares.
Also hoping for the re-rating is Malcolm Jackman, chief executive of Futuris, which has its 43 per cent stake in AAco on the market
http://business.smh.com.au/business/property-sale-bolsters-aaco-20081222-73ly.html
So going by those figures Futuris 43% should be $500mill anything less Futuris shareholders would be sold out.
If not Why would The chief executive, Stephen Toms, put up that $1.2 billion value
Property sale bolsters AAcoThe group has 26 properties, valued...
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