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0.00% 3.0¢ metrocoal limited

(4) The way of acquisitionAustar will acquire 100% equity...

  1. alphman
    487 Posts.
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    02/08/11
    20:43
    Post #: 8762932
    (4) The way of acquisition
    Austar will acquire 100% equity interests in Syntech and Syntech Holdings II for a consideration comprise of a cash consideration of AUD1 each and the repayment of their indebtedness of not exceeding AUD202.5 million in cash.

    I read the above as Syntech and Syntech Holdings II walk away from this with $1 each and a $26.5m debt between them, as opposed to a $229m debt.

    Apparently they've been trying to sell this for quite some time [Source]. Sounds to me they were desperate to repay their debt.
    MTE Price at posting: 92.0¢ Sentiment: LT Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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