Post by
Whitehell on Sep 03, 2014 3:54pm
Selling for net proceeds to Stream's shareholders of US$41.2
I found this deal to be bad for the Shareholder (just my opinion)...
Their selling their 546 MM$ US NAV (discounted at 10 % Before tax) for a 42,1 MM$... with the actual net debt, maybe a total value of 100 MM$... that's sick. I hope for Shareholder bankers come out with a higher bid... Selling their assets for 1/5 of the Nav is really low... But I guess the company has been stalling for a long time, so maybe SH are happy just to get out with a little premium.... and those who still want to be a part of the developpement of those assets can hold on to their Transatlantics petroleum's share..
Cheers
White