Tax Loss Pools Double operating Margins See Slide 6 in the new Corporate presentation link below.
You will note that VLE operating margins from its acquired Concessions will be double that of full paying income tax on earnings such as POE.
This makes a huge difference in operating cash flows, net earnings , balance sheet organic growth , all of which will see VLE NewCo given premium valuations compared with those paying full income taxes.
Even better, the other 5 concessions adjacent to G6 and G10 also come with significant tax loss pools.
Yet, with an initial M & A move that hits all cylinders in terms of fiscal prudence, balance sheet conservatism, organic growth premiums and robust operating margins, we still see the nattering nabobs of negativity posting their trashy opinions on this board, totally bereft of evidential substance as they always were.