Understand This Guys ??!!
On Nov. 1, 2018, a Vitol-led consortium has agreed to acquire a Petrobras offshore fields in Nigeria for $1.407 billion. The consortium buying the stake is comprised of Vitol, Africa Oil, and Delonex... Locked Box is the name given to a closing mechanism whereby the Equity Price is fixed in the SPA at Signing, calculated based on an historical balance sheet at a pre-Signing date. A Locked Box deal in its simplest form is a "fixed price deal"...Anyone who can read a balance sheet can see that as of June 30, 2019, AOI had US$341 million cash on hand (not spent; not restricted) that haven't yet been put into the escrow account for the Nigerian deal...In other words, AOI has to come up with US$1.4 billion to close this deal if it ever gets approved by the corrupt Nigerian officials...This deal would be the worst thing AOI would wish for as it would bankrupt this Company having bought a hat too big for its head.