RE:RE:RE:RE:WHY ? Do somebody have any answer !marketsense wrote: Yes, the blames lies with past mgmt and the argument over selling the hydro assets was
despite the fact they were stable long life, although that is now apparently not true, the
WGL assets offered growth and higher returns. The problem was not that WGL is such a bad
investment but that they overpaid for them and consequently got into an horrendous debt pickle
which forced them to sell the hydro assets. To be clear, ALA was taken advantage of by
some sharper NY dealmakers, who flogged off WGL at a tremendous premium to a willing
but not so sharp ALA mgmt. Its been an upward slog ever since to try and get over what
happened. So far the only consolation is a sustainable div and a nicely performing propane
exporting business. I'm still invested and trying to be patient.
Marketsense you hit the nail on the head. Spot on !
Looking forward !
It will be interesting to see what happens to the SP if and when they decide on the privately held PetroGas option.
The Calgary-based utility, power and pipeline company says privately held SAM Holdings Ltd. has given notice it will exercise an option that requires an AltaGas-led joint venture to buy SAM's remaining one-third share in Petrogas at fair market value.
AltaGas bought its current one-third interest in Petrogas from SAM for about $440 million in 2013 as part of the transaction that allowed Idemitsu to also acquire a one-third share.
The AltaGas-Idemitsu joint venture was formed earlier in 2013 in part to pursue liquefied natural gas export opportunities.
GLTA
WindyHill