Speaking of DVI, does anybody know if this deal with Flight Centre (FLT) & PPS is still on the table?
Is IBN still positioned to potentially benefit from this soon?
from ...
http://www.ibuynewgroup.com.au/about/
- Following the accelerated sell down of Professional Performance Systems (PPS), owner and operator of the BYOjet Group to Flight Centre Travel Group Ltd. (ASX: FLT), IBN has maintained a 8.205% equity-like exposure via a potential future payment. The agreed potential future payment is to be determined by reference to PPS’ EBITDA for the financial year ending 30 June 2018.
The initial deal dated 21/12/15 where FLT invests in BYOJetgroup:
https://www.asx.com.au/asxpdf/20151221/pdf/433yxlpf3l94pt.pdf
The revised deal on 19/2/16 where DVI accepted a $700k advance payment:
https://www.asx.com.au/asxpdf/20160219/pdf/4355yj3tqc4kfz.pdf
If FLT has been able to make good on this investment over the last 2.5 years, it could prove a nice cash bonus for IBN.
