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16-05-2018, 12:42 PM
#1821
Originally Posted by bull....
mercury willing s/h for growth is a positive , ift wont have to stump up as much cash now for dondunnell anyway results tomorrow
The announcement yesterday didn’t exactly sound like they were super pleased with the sale, especially since they had made their own, rejected, offer.
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16-05-2018, 12:57 PM
#1822
yeh tend to agree with Huxley. IFT have lots of cash looking for a home ...
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16-05-2018, 01:46 PM
#1823
Yep seems to be that IFT want to give as little as possible away of all the groundwork they have done
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16-05-2018, 02:46 PM
#1824
thats the problem with infratil , they are laying the groundwork but are spreading themselves to wide, they dont have enough money to do all there projects in all there divisions. the business has not really grown for over 5 yrs they need to concentrate there portfolio and grow it quicker than just spending a bit here and there as capital allows, thats why mercury should be welcomed as together they can grow tilt quicker
one step ahead of the herd
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16-05-2018, 04:09 PM
#1825
infratil would actually create more shareholder value by building up a satelite business into part of there core 1 or 2 at a time instead of 5 at a time would reduce costs, allow more capital to be allocated and narrow management focus.
one step ahead of the herd
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16-05-2018, 04:23 PM
#1826
Originally Posted by bull....
thats the problem with infratil , they are laying the groundwork but are spreading themselves to wide, they dont have enough money to do all there projects in all there divisions. the business has not really grown for over 5 yrs they need to concentrate there portfolio and grow it quicker than just spending a bit here and there as capital allows, thats why mercury should be welcomed as together they can grow tilt quicker
🤨? Don’t they have hundreds of millions in cash and the same again in bank facilities? I think they were attempting to deploy some of that into TLT but didn’t offer as much as MCY. They’ve mentioned in the last few updates that they’d prefer to invest further into their current platforms and the gearing is quite low.
Last edited by huxley; 16-05-2018 at 04:24 PM.
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16-05-2018, 04:33 PM
#1827
Originally Posted by huxley
廊? Don’t they have hundreds of millions in cash and the same again in bank facilities? I think they were attempting to deploy some of that into TLT but didn’t offer as much as MCY. They’ve mentioned in the last few updates that they’d prefer to invest further into their current platforms and the gearing is quite low.
they said in there presentation they dont have enough capital to support all there investment options , thats why i think they need to narrow the portfolio think they might have alluded to that? and they also say tilt and data offer the best options for capital. so why keep the others if they are not as attractive?
Also they say market not valuing the new platforms in there share price - probably because they dont have any scale tilt an example looking at there results ....
one step ahead of the herd
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16-05-2018, 06:25 PM
#1828
Originally Posted by bull....
they said in there presentation they dont have enough capital to support all there investment options , thats why i think they need to narrow the portfolio think they might have alluded to that? and they also say tilt and data offer the best options for capital. so why keep the others if they are not as attractive?
Also they say market not valuing the new platforms in there share price - probably because they dont have any scale tilt an example looking at there results ....
Yeah, I don't read that in quite the same way, it's more the need to give priority to the best options (and managing your book of proprietary options over time so you can capitalize on market events etc). If anything they seem concerned to avoid over bidding for assets, including their own it seems, which are maybe priced more and more by short term, maybe "bond proxy" factors?
Anyway, I don't think it's really a lack of capital stopping further immediate investment in something like TLT, it's more timing the development to achieve the returns you're after. For example, they could take Dundonnell fully merchant tomorrow, but are basically waiting to get a PPA in place first.
Your right though, some elements in the portfolio don't seem to show much in the way of growth and don't really look like a good fit (other than maybe diversification benefits?), but the for sale sign has already been put up for the likes of NZ Bus, so clearly they will transact if they decide the returns are not going to be realized.
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16-05-2018, 08:32 PM
#1829
[QUOTE=bull....;714711]they said in there presentation they dont have enough capital to support all there investment options , thats why i think they need to narrow the portfolio think they might have alluded to that? and they also say tilt and data offer the best options for capital. so why keep the others if they are not as attractive?
Also they say market not valuing the new platforms in there share price - probably because they dont have any scale tilt an example looking at there results ....[/QUOTE Around $660 m available to invest?
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16-05-2018, 08:44 PM
#1830
[QUOTE=kiora;714737]
Originally Posted by bull....
they said in there presentation they dont have enough capital to support all there investment options , thats why i think they need to narrow the portfolio think they might have alluded to that? and they also say tilt and data offer the best options for capital. so why keep the others if they are not as attractive?
Also they say market not valuing the new platforms in there share price - probably because they dont have any scale tilt an example looking at there results ....[/QUOTE Around $660 m available to invest?
But, they say they have $1b in potential investments, soo.. yeah.. Not a bad place to be though, eh?
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