Tidewater Midstream and Infrastructure Ltd T.TWM

Sale Process & Next Steps

[longrun86]

It seems like the sales completion is just around the corner.

Next steps in the value creation process will play out over the coming quarters.

Looking forward to deleveraging and seeing them out some numbers on the board with the capex now being completed.

I am not sure their plan with LCFS will pan out given how interrelated the operations are. The day could come very shortly where this operates as one entity.

The Board will need to evaluate if TWM can really make a go of it given it's capitalization. 

It's the type of company that one day ends up as a subsidiary under Brookfield or split part and sold in pieces.

LR

[Mephistopheles3]

Agree with most of your comments, I see this as a perfect "tuck-in" acquisition for an Enbridge or Brookfield.     The split with LCFS clearly has not worked out like they thought.  The liquidity just isn't there and there's some days with like 100 shares sold which is pointless for a public company.  Looks like management is focused 100% on the HDRD

[wynner]

Or put another way. Owning 69% of a startup unproven company in a bad market has shown them that the $15 ipo was too ambitious.  Buying back the shares is now a much better option since it actually works and makes a ton of credits. After the ALA deal is done look for a buy back offer. Disclosure: I kind of read that in some bank analysys somewhere. I own LCFS but not TWM.

[longrun86]

Bingo! Buy it back. It might be a bit tricky to get shareholder and regulatory approval at LCFS given the situation. A Fairness Opinion would be needed and it would be entirely conceivable that LCFS shareholders would need to have a choice between shares in TWM or cash. New Management needs to set a path for the Company and execute over the next 12 to 18 months. Right now the market doesn't