OTCPK:MGMXD - Post by User
Comment by
R_J_on Aug 03, 2017 1:46am
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Post# 26541547
RE:RE:RE:RE:RE:Blue lgoon ownership
RE:RE:RE:RE:RE:Blue lgoon ownershipThe US based private equity group Blackstone, just put together an offer for the 30% stake in Blue Lagoon.
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The total transaction value is $106 million, which values Alterra’s stake in the spa at over $58 million.
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This is over 50% higher than what Katusa had expected Alterra to get for its stake.
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The problem is the Icelandic Pension Funds, which is a minority partner in HS Orka, don’t think it’s a high enough valuation and rejected the offer.
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The minority partner has a veto clause.
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The $58 million cash windfall represents nearly 22% of Alterra’s current market capitalization.
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https://icelandmag.visir.is/article/bid-us-private-equity-firm-blackstone-group-buy-blue-lagoon-rejected -
RJ