Some one wants a positive spin on the ALA sale of ACO assetsReally very easy. ALA was in trouble: The market conditions changed re debt for companies, the closing on WGL took way lkonger than ALA had expected and they needed to raise capital by selling off assets to keep their creit rating. They saw the long term value of Ripet and WGL so they reluctantly sold off the miniumum of what they needed to do to keep the ship afloat... They saw value in ACI so kept as much as they could afford rather than selling it all at too low a price - now that the ACI assets are more or less fully valued they will do way bette rif they sell them now rather than had they done the whole sale earlier when the company was distressed and no one would pay them fair market value.
If anyone thinks that ALA would hav ebeen fine five year sout if they had not bought WGL I doubt they hav efoillowed the declining value of smoe of those pre-existing assets. They overpaid for WGL in the short term - arguably - but th elonger term future of the company is not determined on an overpayment if their is good value and sound management going forward.
The positive spin is pretty easy in my book...Survival trumps mos tother decisions within a company Now the ship is righting itself quickly...