RE:New Press Release - AtkinsRéalis announces private offering of $400 million of unsecured debenturesI have a question. SNC/ATRL sold 10.01% stake of the 407 for 2.25B and received the funds in August 2019 making it almost debt free then.
I see that the net debt is again close to 2B today. Where did the money go ? 400 m per year, year over year for 5 consecutive years makes 2B.
The money was not spent on dividends, was not spent on shares buyback, nor on investments in any shape or form since we also sold Kentz for 185m (which we had bought for over 2B) and we sold the north european units.
And this is happening during the best years engineering firms have had for decades. How much debt will be added when governments stop spending.
I sold some more shares today at 55.90 and 56.