"Pinebrook therefore have to throw in a total of 28mill to take 80% share of the JV"
Thats right. Current shareholders, through COI will retain 20% of existing US Assets plus will get the benefit of 20% of the US$28M i.e. 20% x $28m = $5.6M.
That is we give up an equity interest of 80% in the US assets for the benefit of $5.6M of the US$28M invested by Pine Brooks.
Pine Brooks gets 80% of the US Assets and will retain 80% of the benefits of the $28M invested.
Regards
SP
escapes the states. , page-7
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