Hi Pwinneagree with selling the US and UK and reducing debt. Not...

Hi Pwinne

agree with selling the US and UK and reducing debt. Not so sure he did it with concerns the bank would call the loans. They only loaned it 2 months ago. The market was saying it was concerned with debt levels, US exposure and buying centres last year in the US at 10 times EBITDA. I think he figured, they put together a deal (assuming it goes through) which offloaded exposure to the US, will reduce debt and sold at a price of 14 times EBITDA which justifes them paying only 10 times last year. He would have figured he answered market concerns. Hedge funds didn't care. I'm guessing this deal was already being worked on prior to all of this in any case. You don't put these deals together that quick, even if you are Fast Eddy. Eddy and Co were buying last year. They must have been buying believng there was good to come.