19-11-2014, 08:25 AM
(19-11-2014, 07:43 AM)Stephen Wrote:(19-11-2014, 07:40 AM)greengiraffe Wrote: Its the best deal for 2 ITE cos...
Basically, when they cannot convinced existing holders, they merged and confused existing holders further via a bigger platform, raised cash to buy a new asset.
Key considerations here - how attractive are the existing assets and the incoming assets...
The main benefit here is the cash infusion with a new asset with lower debts and immediate accretion to DPU...
Vested
CS
What it seems to me:
CIT+KIT only - Cityspring shareholder benefits
CIT+KIT+KMC - Both shareholder benefits
Vested in both
#1 CIT+KIT only - Cityspring shareholder benefits
#2 CIT+KIT+KMC - Both shareholder benefits
If KIT is benefiting CIT holders in case of #1, both Keppel by divesting an asset and potential new equity subscribers would pay for #2...
Divested CIT recently and not vested in KIT