From @shades2 who attended the Galaxy AGM....

From @shades2 who attended the Galaxy AGM.
http://hotcopper.com.au/threads/gxy-agm.2781185/page-41?post_id=17914274#.V01YSpN95Wk

In response to whether a JV will be required for SDV post-merge.


"A Tse: With the cash-flow generated by Cattlin, a JV will not be required, as they have other finance methods (eg. loan to be paid back over say 3 years). There will be no need to give away on-going value over many years with this approach."

This is exactly what we needed to hear -  and the absolute clincher for me.
Great. Now lets get on with it.