GREY:WFREF - Post by User
Comment by
anyoneon May 24, 2016 9:59am
157 Views
Post# 24899086
RE:It Aint Over Until Its Over
RE:It Aint Over Until Its OverCalgary Sinoenergy is the purchaser. ChangChun Sinoenergy has shareholder approval to buy 51% interest of Calgary Sinoenergy and the remaining 49% Calgary Sinoenergy is owned by a private investment company. This deal was arranged by the controlling shareholders of Changchun Sinoenergy, who owns part of private investment company too.
The private investment company will pay $200M upon closing and Changchun Sinoenergy will pay $100M upon closing. After closing, Changchun Sinoenergy will pay $100M by private placement and remaining $400 senior debt will be financed by Chinese banks. The money is there but not in Calgary Sinoenergy as Calgary Sinoenergy is a firewall in case something wrong went wrong badly.
We just need wait for approval from Investement Canada. The law firm repesenting the purchaser is NOT doing a good job in building a strong case for purchaser.