AG and JS did us all a favour by getting the Anchorage consortium to take 100% of the UK operatiions as part of the deal. The Anchorage consortium will loose money and will have to inject new capital to keep the doors open in the UK for the duration of their ownership.
SGH AUS is the jewel in the crown and the profits here will offset some of the pain for Anchorage in the UK plus their exit plan will require a bumper harvest from SGH AUS as well. The headwinds from the UK operations are never-ending as we all came to realise in the end.
Unfortunately for Anchorage they will have to manage the UK problems alone and I would think by now the consortium members are starting to understand the gravity of the situation with their 100% ownership of the UK operations and maybe this is the first of many who will want out.
SGH Price at posting:
$3.02 Sentiment: Buy Disclosure: Held