20 buyers now circling Virgin Australia
I have to be honest a lot of this level of business is above my head however i would have thought the shell of VA would not be worth very much i.e not much to sell for the creditors if liquidation occurred and therefore approving the sale would yield a greater return. I know it is going to depend on what Bain are offering but surely it would have to be better than what they would get in a liquidation scenario.
Just my 2 cents worth
Just my 2 cents worth
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Do they (Deloitte and/or Bain) have them 'yarded' and inside The Tent......, or- are they still snorkeling about outside, tooled-up with Lawyers, Guns & Money- packing circa 6,000 in Number and $2Bil in Value.........????
With about 60x days to run til the Second Creditors meeting to make it all fly/validate the process.
Rgds all
S28- BE
With about 60x days to run til the Second Creditors meeting to make it all fly/validate the process.
Rgds all
S28- BE
How will the bond holders affect this moving forward anyone?
Yeah okay......lifted from a quick wiki search,some of the companies Bain has ‘invested in or acquired‘.
“The firm was founded in 1984 by partners from the consulting firm Bain & Company.[4]Since inception it has invested in or acquired hundreds of companies including AMC Theatres, Artisan Entertainment, Aspen Education Group, Apex Tool Group, Brookstone, Burger King, Burlington Coat Factory, Canada Goose, DIC Entertainment, Domino's Pizza, DoubleClick, Dunkin' Donuts, D&M Holdings, Guitar Center, Hospital Corporation of America (HCA), iHeartMedia, KB Toys, Sealy, Sports Authority, Staples, Toys "R" Us, Warner Music Group, Fingerhut, The Weather Channel, and Apple Leisure Group, which includes AMResorts and Apple Vacations.[5]
As of 2018, Bain Capital employed more than 1,000 people.[2][[i]better source needed] Bain Capital is headquartered at 200 Clarendon Street in Boston, Massachusetts with offices in North America, Europe, Asia, and Australia.[6][7][8]”
There’s apparently some pretty decent brands and organisations in that list......their judgement can’t be all bad.
“The firm was founded in 1984 by partners from the consulting firm Bain & Company.[4]Since inception it has invested in or acquired hundreds of companies including AMC Theatres, Artisan Entertainment, Aspen Education Group, Apex Tool Group, Brookstone, Burger King, Burlington Coat Factory, Canada Goose, DIC Entertainment, Domino's Pizza, DoubleClick, Dunkin' Donuts, D&M Holdings, Guitar Center, Hospital Corporation of America (HCA), iHeartMedia, KB Toys, Sealy, Sports Authority, Staples, Toys "R" Us, Warner Music Group, Fingerhut, The Weather Channel, and Apple Leisure Group, which includes AMResorts and Apple Vacations.[5]
As of 2018, Bain Capital employed more than 1,000 people.[2][[i]better source needed] Bain Capital is headquartered at 200 Clarendon Street in Boston, Massachusetts with offices in North America, Europe, Asia, and Australia.[6][7][8]”
There’s apparently some pretty decent brands and organisations in that list......their judgement can’t be all bad.
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Well, let me say it again " No one will buy Virgin "!
This is Ansett/Tessna, Fox and Lew, all over again from 20 yrs ago!
Those who don't learn from history make the same mistakes!
This is Ansett/Tessna, Fox and Lew, all over again from 20 yrs ago!
Those who don't learn from history make the same mistakes!
Yeah okay......lifted from a quick wiki search,some of the companies Bain has ‘invested in or acquired‘.
“The firm was founded in 1984 by partners from the consulting firm Bain & Company.[4]Since inception it has invested in or acquired hundreds of companies including AMC Theatres, Artisan Entertainment, Aspen Education Group, Apex Tool Group, Brookstone, Burger King, Burlington Coat Factory, Canada Goose, DIC Entertainment, Domino's Pizza, DoubleClick, Dunkin' Donuts, D&M Holdings, Guitar Center, Hospital Corporation of America (HCA), iHeartMedia, KB Toys, Sealy, Sports Authority, Staples, Toys "R" Us, Warner Music Group, Fingerhut, The Weather Channel, and Apple Leisure Group, which includes AMResorts and Apple Vacations.[5]
As of 2018, Bain Capital employed more than 1,000 people.[2][[i]better source needed] Bain Capital is headquartered at 200 Clarendon Street in Boston, Massachusetts with offices in North America, Europe, Asia, and Australia.[6][7][8]”
There’s apparently some pretty decent brands and organisations in that list......their judgement can’t be all bad.
“The firm was founded in 1984 by partners from the consulting firm Bain & Company.[4]Since inception it has invested in or acquired hundreds of companies including AMC Theatres, Artisan Entertainment, Aspen Education Group, Apex Tool Group, Brookstone, Burger King, Burlington Coat Factory, Canada Goose, DIC Entertainment, Domino's Pizza, DoubleClick, Dunkin' Donuts, D&M Holdings, Guitar Center, Hospital Corporation of America (HCA), iHeartMedia, KB Toys, Sealy, Sports Authority, Staples, Toys "R" Us, Warner Music Group, Fingerhut, The Weather Channel, and Apple Leisure Group, which includes AMResorts and Apple Vacations.[5]
As of 2018, Bain Capital employed more than 1,000 people.[2][[i]better source needed] Bain Capital is headquartered at 200 Clarendon Street in Boston, Massachusetts with offices in North America, Europe, Asia, and Australia.[6][7][8]”
There’s apparently some pretty decent brands and organisations in that list......their judgement can’t be all bad.
Well, let me say it again " No one will buy Virgin "! This is Ansett/Tessna, Fox and Lew, all over again from 20 yrs ago! Those who don't learn from history make the same mistakes!
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I hope I'm wrong too!
But have been there, done that, 30 yrs ago, with the pilots dispute and the Ansett debacle and Australian aviation destroyed by the Hawke labour guvmint!
In this climate no one will buy an airline with a 7 Billion dollar debt!
Surely you can all see that?
But have been there, done that, 30 yrs ago, with the pilots dispute and the Ansett debacle and Australian aviation destroyed by the Hawke labour guvmint!
In this climate no one will buy an airline with a 7 Billion dollar debt!
Surely you can all see that?
Bain did just that today - https://www.asx.com.au/asx/statistic...idsId=02248532
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Anyone who thinks it's all over and a done deal with Bain the meritorious victor....think again. IMHO.
Cheers
I hope Obie is wrong, I honestly do.
But if you factor in the shear size of the debt, along with a devastated market? Something just doesn’t add up.
Not to me at least.
But if you factor in the shear size of the debt, along with a devastated market? Something just doesn’t add up.
Not to me at least.
The problem will be if the debt holders don't like the percentage they are given and wish to make a issue of it.
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Ex the Deloitte ASX release quoted earlier by Mr 'junior.VH-LFA': (bolding)
Would Mr 'non_state'-'s:
- be part of the 'minimal conditions precedent', with an in-principle deal done and all now On-Board- or not....???????
Without wanting to spook horses or verge on doom-saying- the term, 'minimal conditions precedent', when pushed can cover a lot of ground/big yards......!!!!
Then, Paul gets a crack as well on the same venue (ASX)- Wow!!!!, link: https://www.asx.com.au/asxpdf/202006...kbgb9n0qpp.pdf , that sort of seems 'out' there given the show is in Administration..????- Anyhoo.
Rgds
S28
The Sale and Implementation Deed is subject to minimal conditions precedent such as regulatory approvals.....
The problem will be if the debt holders don't like the percentage they are given and wish to make a issue of it.
Without wanting to spook horses or verge on doom-saying- the term, 'minimal conditions precedent', when pushed can cover a lot of ground/big yards......!!!!
Then, Paul gets a crack as well on the same venue (ASX)- Wow!!!!, link: https://www.asx.com.au/asxpdf/202006...kbgb9n0qpp.pdf , that sort of seems 'out' there given the show is in Administration..????- Anyhoo.
Rgds
S28
id hate to not learn anything from history and all, dopey
My god there’s a lot of doomsayer’s on this. Most likely competition pilots who think it’ll save their bacon. Swinging from hope to hope that the competition will disappear and they’ll somehow prosper...