Tuesday, November 29, 2016 9:11:58 PM
This is how you could get to SIAF's 37% stake in Triway.
Triway NTA = $293M
SIAF brings to the table
- $41M deposited for future acquisitions
- $28M advanced to developers
- $20M? from owning 75% of FF1
- $20M? other advancements or loans
Total $109M or 37%
The JV partners own the other 63%.
But then came along the 32%-investors and they paid $93.8M to the JV partners for a 32% stake.
Theoretically, if SIAF can get a $93.8M loan then they could take the whole 32%. And 32% + 19% = 51%. What a coincidence
Triway NTA = $293M
SIAF brings to the table
- $41M deposited for future acquisitions
- $28M advanced to developers
- $20M? from owning 75% of FF1
- $20M? other advancements or loans
Total $109M or 37%
The JV partners own the other 63%.
But then came along the 32%-investors and they paid $93.8M to the JV partners for a 32% stake.
Theoretically, if SIAF can get a $93.8M loan then they could take the whole 32%. And 32% + 19% = 51%. What a coincidence
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