20 buyers now circling Virgin Australia

[ozbiggles]

Blackout, your wife wants her tinfoil back.

[Ragnor]

How will the bond holders affect this moving forward anyone?

[hoss58]

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

[Section28- BE]

Originally Posted by Ragnor

How will the bond holders affect this moving forward anyone?

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

[non_state_actor]

How will the bond holders affect this moving forward anyone?

By voting no in the Creditors Meeting and then forcing a court case if they don't like the offer they are made.

[B772]

It appears Virgin Australia will join Bob's Discount Furniture as a major investment held by Bain Capital.

[Renton Field]

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.

[Mister Warning]

I'm a big fan of DIC Entertainment.

[Obie]

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!

[On eyre]

Originally Posted by Renton Field

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.

Yes but how many of these do they still have an investment in and how many have they flogged off after taking their cut 😳

[non_state_actor]

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!

And the reason behind that logic is what exactly?

[KRUSTY 34]

Originally Posted by non_state_actor

And the reason behind that logic is what exactly?

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.

[Obie]

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?

[MickG0105]

Originally Posted by Obie

In this climate no one will buy an airline with a 7 Billion dollar debt!

Bain did just that today - https://www.asx.com.au/asx/statistic...idsId=02248532

[No Idea Either]

Because, they don’t have the debt. It’s magically gone away.......apparently........maybe............

[galdian]

Originally Posted by Blackout

Nobody has 'Bought' anything yet. Bain entered an 'Agreement'. There still is a lot that can happen between now and Aug.

There's still a lot that WILL happen between now and Aug.

Anyone who thinks it's all over and a done deal with Bain the meritorious victor....think again. IMHO.

Cheers

[non_state_actor]

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.

That debt has now been reduced due to the administration the debt holders will be paid some percentage of what they are owed and life will go on.
The problem will be if the debt holders don't like the percentage they are given and wish to make a issue of it.

[Section28- BE]

Ex the Deloitte ASX release quoted earlier by Mr 'junior.VH-LFA': (bolding)

The Sale and Implementation Deed is subject to minimal conditions precedent such as regulatory approvals.....

Would Mr 'non_state'-'s:

The problem will be if the debt holders don't like the percentage they are given and wish to make a issue of it.

- 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

[chookcooker]

Originally Posted by Obie

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!

can you “say again” the bit about them going into administration (despite that they’ve already been in administration for 2 months)
id hate to not learn anything from history and all, dopey

[Seriously]

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...