They will be able to payout one buck after they acquired the MF but now they need like 150M for those 55% and all the things around that MF. + the stake in the other JV:s.
I think 12 millions is much even if they get a $100 M loan, but I understand your point. Siaf is almost debt free if you are thinking about the equity in the company, but loan of hundreds of millions of dollars doesn't grow on trees :/