RE:RE:RE:The Restructuring Plande Alba stated on Nov 9, 2023:
Importantly, during the quarter, the Company continued to drive costs out of its business, reducing its G&A by 4%. Building on this positive momentum and to better position the Company for sustained long-term success, subsequent to the quarter, Frontera's board of directors approved a restructuring plan that will improve organizational and operational efficiencies, reduce costs and better align the Company's workforce with current business needs, top strategic priorities, and key growth opportunities.
Imo, this "restructuring" is different than the debt and segmenting of the 3 businesses previously announced.
But on that subject it reminds me of the NYC street hustlers and The Shell Game. 3 shells (fec business segments) and the pea (the debt). Mix up the shells and then try and pick the one that has the debt. The debt never goes away it's just moved around. Better yet just have a fourth shell and put the pea under it leaving the original 3 shells with no pea. Again, the pea is always there. Lol
But answer this curiosity: with fec having a pile of cash, why does Puerto Bahia need to borrow money from an outside source? Why not let one fec shell (where the cash is kept) loan the other shell the $? No need for Macquarie, right?
In summary, 1. the most recent "restructuring" is about bringing costs down and 2. the debt of roughly $500m hasn't gone away and will have to be accounted for before shareholders get money in the case of a total or partial sale of the company.
This is my view only and I'm certainly open to any correction or clarification.