The deal appears to be back on track but not all are jumping for joy. There are going to be some interesting outcomes as a result of the last five days. Here are the interesting bits. Transfer of ownership will proceed with a share transfer in the case of Hazelton and an asset transfer in the case of Kendell. The new deal bypasses issues associated with the Kendell CRJ debt and associated liabilities, and has also been structured so that the purchase of Hazelton is now no longer contingent upon the purchase of Kendell. Interestingly this doesn’t apply in the case of Kendell though, as the purchase of Kendell is still contingent upon the purchase of Hazelton.
Strap yourselves in kids, it’s going to be a bumpy ride.