Originally Posted by
MelbourneFlyer
The accompanying article regarding Velocity really made me wonder WTF Virgin Oz management were doing.
In 2014 they borrowed $150 Mil from Velocity.
in 2014 they sold 35% of Velocity for $335 Mil.
Virgin Oz lost $350 Mil that same year.
They then bought back the same 35% of Velocity for $700 Mil, five years later. From the same group theyd sold it to originally.
They never paid back the original $150 Mil loan from Velocity.