RE:RE:RE:RE:RE:RE:RE:Alstom's spinSounds reasonable. The market though won't go thru that kind of detail, they''ll just be confused by the different press releases, different currencies, different enterprise value, CDPQ's share and last but certainly not least, the media obfuscating further.
In my "model", I assume they'll get US$3B cash for BT and the BT balance sheet (excluding the ~$500M in BT - I treat all the cash as HQ) just goes away as assets and liabilities held for sale and we're left with Aviation (plus all the other adjustments of course - ACLP, CRJ, credit line, interest, etc etc etc etc). Anything above that $3B is gravy I figure.
I find it futile to review the press releases, interviews and articles simply because they're not financial statements...its sort of like the oil and gas producer presentations - full of #s, most of it not to be relied upon - only thing to belief are the quarterly statements.
Micmar wrote: Pablo on feb 17. the euro was at 1.43$ yesterday it was at 1.56$. so 7.45/1.56x1.43=6.83 so 7.15 is close enough. for CDPQ it was based on money and interest so that is the raison why BBD take all the hit. for Alston CEO he said that two weeks ago for negotiations purposes. Finally they paying the exact same price cause they know that BT as the same value then Alston. That why. CDPQ AS 34% of BT and now they will have 18% of the new Alstom. make the calculation and you will see.
pablo87 wrote: If shareholders were uncertain before as to how much money Bombardier will receive from the sale of BT, it's clear as mud now. There is a Chinese expression: When the water is clear, you can't catch any fish...
bbdaerospacecnd wrote: different spins from BBd and Alstom indeed. BT has to improve its cash position before Q1, 2021
'Alstom will pay 900 million euros less than initially planned as part of the high price range proposed by Alstom management, last February. This was between 5.8 and 6.2 billion euros.
Two weeks ago, Henri Poupart-Lafarge, CEO of Alstom, had indicated at the microphone of Franceinfo, to have revised this price downwards, within the framework of a new range of 5.5 to 5.9 billion. But Alstom specifies today that the final price should be reduced to 5.3 billion thanks to a final price adjustment mechanism, depending on the level of cash at Bombardier 'Transport when the transaction closes in the first quarter of 2021.