Syncora Holdings Ltd. (fka SYCRF)

[InvestorPM]

Should be interesting what Roads sells for. In hindsight, the fact that Syncora was able to get Detroit to increase the concession on the tunnel from Detroit to Windsor by 20 years may turn out to be a real win.

My guess is that when Syncora was negotiating the concession extension on the tunnel with Detroit they would have tried to ensure that the extension they received was roughly inline with the reaming life of the concessions on the other toll properties that American Roads owned and as such a 15% multiple on EBITDA of $20 million should command a selling price of roughly $300 million or $3.5 a share