Replies to post #148283 on Sino Agro Food Inc (fka SIAF)

[RealDutch]

This will only work if SIAF doesn't have to give the 18.3M shares back. Otherwise there is no gain for TRW.

This will work if SIAF retains 36.6%. And the reason is, there will be a reduction in the number of shares the partners own, so that has to be compensated by a gain if their value is to remain the same.

But why do you focus on P/L? What matters to us is the value per TRW share we will own. And that will go up by $0.623 per TRW share. Or $0.23 per SIAF share.

[Chrysanthemis]

My understanding is that TRW does not issue shares, but distributes shares in its possession.

It would incidentally, in my view, be difficult to justify this distribution to TRW's owners (who are different from SIAF's owners) if it would incur a substantial loss to TRW.