NOT ONE OF THEIR BETTER DEALS< sign of things to come ?
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Thanks for that. Looks like the new management are getting rid of all the deadwood deals done in the past and looking for a new start. This is not a bad thing I think. Cash in the bank is good and getting rid of none performing assets is also a good thing. So now it looks as though they have cleaned up the balance sheet. Got a lot of cash in the bank and can go ahead as a slimmed down entity.
Still Whatsup has a point. The question is whether new investments will be better than the old ones? Personally I like the idea of Shell but for no more than 3 to 4 years. But this deal means that they have enough cash to do more than that.
Trouble is this deal ( although it wouldnt have ) should have been done 12 months ago so as to be able to take advantage of all of the cheap deals out there that 6 months ago were there for the taking , not now as unless the market has another leg down the opportunities that are there are picked over or fully priced, oui well at least its money in the bag but IFT's ballance sheet was getting pretty fully stretched,
I did well out of the options bought some at .03 and sold at .14, best play in IFT for a while.
Press reports today expect a return to IFT of about AUD138m for its ENE stake if the sale goes through at AUD2.75ps.
That would see IFT pretty well recovering its original investment of NZD170m and a book profit in excess of NZD100m in the current year.
There are some unusual aspects to the PEP bid for ENE.
IFT may still be some way from cashing in this investment.
http://www.businessspectator.com.au/...cument&src=kgb
The interim div was due to be paid last Friday, 11 Dec.
Last year's final (for year ended 31 March 2009) was paid on 29 July.
:)
I was wondering if someone with some Technical Analysis expertise would care to post their thoughs on Infratil.
To my (very inexperienced) eyes it appears IFT has broken out of its long term down trend.
http://i985.photobucket.com/albums/a...ez01/chart.jpg
Your opinions are appreciated.