any thoughts on beppa price if yes vote?, page-36

Not all of the BNB syndicate banks BNB debt has been sold at 30c/$, somewhere between a half and 2/3, the remainder is partly relying on the BNB equity stake in BBI to be a viable force still.

I think that if BNBG had not tipped BNB into admin and ultimately liquidation, that the incentive to keep BBI going without a CSI would have been much, much, stronger.

The banking consortium was not going to allow a similar scenario to eventuate with BBI, VA was and still is a certain destination given the lack of ready buyers at REQUIRED prices, and the available cash flow over the next four to five years.

There is 2b spare cash required over the next 2 years to come out of negative available cash once PD Ports debt capital is resumed.

The RBS offer only delayed this VA date by twelve months or so, on it's own it could not save the company. If the RBS offer had been a bit more sophisticated, and the ordinary share holder base a lot stronger and therefore willing and able to raise an equivalent amount as well, it may have had a chance of better success.

re who owns Beppas these days... ;P

I very much doubt the foundations of our financial system, our pillars of society, would use confidential privileged information to secure an equivalent or better eventual return to cover their present and previous exposure levels, if they were given half a chance to do it without being harassed by a government funded regulator for positively maintaining their cash flows without government assistance.


This deal is a balancing act from start to finish. It is just slightly better than the equivalent of a "pre-packaged going concern in liquidation" and there will be a strong argument to support that case if ever it is tested.

I doubt RBS troupe will re-surface until they have the opportunity to pick at the bones in VA.

The low volumes in BBI tell me the BBI vote is sealed as well at the moment.

ifandwhen

holding Beppas