The Chinese paid big bucks to get 60% of the project, and valued the JV at $1b.
The remain 40% should be worth $400m.
And currently AED has net cash of $260m (considering the $85m converitable), and market cap is about $370m.
Total EV=$660m
Currently the production is cash flow positive...
The Chinese can easily spend $560m to pay $3.5 per share to take AED out, and take 100% control of the it, they still be $100m in front.
Why don't they do that?
why not takeover aed by the chinese
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