Yep. Absolutely laughable how they've tried to spin it as a positive. Dampier made $26m EBITDA in FY15 and $20m EBITDA in FY16 (in bad years), so they've sold the assets for a ~2x EBITDA multiple, on bottom-of-the-cycle earnings. Talk about a distressed asset sale! And they haven't solved their debt problems - $45m proceeds isn't enough to stabilize the balance sheet.
Yep. Absolutely laughable how they've tried to spin it as a...
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