Atkinsrealis Group Inc T.ATRL

RE:RE:Why settle?

[Gabriel]

Gabriel wrote: Good point.

My message delivered to the office of the president was and is do not sell divisions but split each share in 4 separate entities and let the market unlock the true value of each. You don't mix  a rotten apple with a diamond. Who said that ? :) 

This is not the time to sell O&G/Resources considering the cycle and the Construction division which has excellent engineers needs to be substantally degreased to make it profitable.

- Engineering Services (Atkins + ex SNC Engineering + Nuclear): 6B value

- Capital : 2.6 B minimal value of all concessions

- Construction : Needs to be profitable at any cost and fast. Claim. Demobilize. Renegotiate. 

- O&G / Resources: I see a deal with Aramco (trillion dollar scale) to migrate to new energies.

If they had listened and not sold Kentz then but now we would be getting 10x more or 3B for it.

[Alexcanada]

Never got this one as well Gabriel.. it's like they wanted it to be out of the books  just for the sake of it

[Gabriel]

Yes. Feels weird when your money is used to overpay Kentz at and clear it at the lowest of the cycle. They hired the same guy that did the same awful C-series giveaway to Airbus. Shareholders are giving away their Aecon shares at below 3 times earnings (EBITDA) excluding the LSTKs. A typical Stephen Jarislowsky investment for the long term.