20 buyers now circling Virgin Australia
Virgin Australia administrators Deloitte confirm 20 buyers are now circling Virgin Australia, adding "we remain confident that our target of achieving a sale by the end of June is achievable.”
https://www.executivetraveller.com/n...uality-bidders |
Turned into a brochure at the end but, that's what they're trying to do I guess.
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BREAKING NEWS: Administrator (of any business) talks up number of potential buyers, uses online industry rag, I mean mag to do so!
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I don't reckon Deloitte needs any website's help in selling Virgin Australia, especially not if rumours of Twiggy Forrest, Wesfarmers and Macquarie Bank are true!
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There were also rumour reports in the papers that Temasek directly was also interested in talking to BGH about a joint bid for VA Mk2.
At this stage it's only a rumour and that 'VA Mk 2' (as co-owner with BGH) would operate alongside SQ/SIA as 'Sister Companies' under the Temasek umbrella, as opposed to the old 'SQ/SIA takes over VA' line that's been trotted out over the past five years. Probably the first time that it's been reported that Temasek directly may be interested (rather than their "child" SQ/SIA). https://www.smh.com.au/business/comp...28-p54ny9.html |
Originally Posted by exfocx
(Post 10767941)
BREAKING NEWS: Administrator (of any business) talks up number of potential buyers, uses online industry rag, I mean mag to do so!
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Money talks..... Bull**** walks!
In 2002 not 1, but 2 billionaires walked away from resurrecting Ansett because their deal was contingent on Government $$ which Mr Dixon at QF made sure never came. So far, word on the street is that any serious buyers are looking for Government cash first. Whether that is real or not remains to be seen. no doubt Alan will want a similar deal for QF or JQ, as should Scott at Alliance. long way to go I’d say before we get anywhere near hearing a fat lady |
Originally Posted by MelbourneFlyer
(Post 10767900)
Virgin Australia administrators Deloitte confirm 20 buyers are now circling Virgin Australia, adding "we remain confident that our target of achieving a sale by the end of June is achievable.”
https://www.executivetraveller.com/n...uality-bidders • 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 they’d sold it to originally. • They never paid back the original $150 Mil loan from Velocity. :sad: |
Will be interesting to see how any new buyer will make it work especially when VA where going down the toilet fast pre CV19, is someone going to wave a magic wand post CV19 and everyone will live happily ever after? This ought to be good! -)
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“20 Buyers”? Most of them will be tire kickers and idiotic “entrepreneurs” who have no money. If I was Deloittes, I would spend a few days right now on weeding out this group or prepare to waste months in discussions of gorgeous possibilities that eventually go nowhere.
The BS normally starts with : ”I represent a Saudi Prince / Chinese Billionaire / Asian Company / American venture capital group that wishes to buy your airline but the name must be kept secret and everything must be in strictest confidence”. I hope there is at least one genuine buyer for the whole airline. |
One thing A new Virgin Australia will need is a guarantee from Government that they will give it 50% of the government work.Not allow Qantas to have the majority of the Government warrants because the fat cats and politicians want their Qantas club and free red wine.
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I don’t know much about how administration typically works out so this is just a question for others.
Would having considerable interest in buying VAH (20+ parties) actually work against the company that emerges for a couple of reasons? 1) Presumably the successful candidate is the one that pays the most. So if all the interest bids the price up then the new owner will be holding more debt themselves once they restart the company. 2) When you demonstrate there are numerous interested parties, some with very deep pockets, doesn’t it become clear that the government has no need to provide any support. Obviously all parties will put their hand out but it’s hard to see how Temasek, etc. could actually NEED the support, it would just lower their risk and increase their return. |
20 Buyers This time round, it is no different. Nothing is what it seems. |
One thing A new Virgin Australia will need is a guarantee from Government that they will give it 50% of the government work.Not allow Qantas to have the majority of the Government warrants because the fat cats and politicians want their Qantas club and free red wine. |
Originally Posted by mates rates
(Post 10768847)
One thing A new Virgin Australia will need is a guarantee from Government that they will give it 50% of the government work.Not allow Qantas to have the majority of the Government warrants because the fat cats and politicians want their Qantas club and free red wine.
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Originally Posted by machtuk
(Post 10768811)
Will be interesting to see how any new buyer will make it work especially when VA where going down the toilet fast pre CV19, is someone going to wave a magic wand post CV19 and everyone will live happily ever after? This ought to be good! -)
Really! QF was three times the size of VA with a vastly bigger network. Since when does a public institution have an obligation to split business 50/50 because the airline requirements are tendered not just handed out. |
Originally Posted by mates rates
(Post 10768847)
One thing A new Virgin Australia will need is a guarantee from Government that they will give it 50% of the government work.Not allow Qantas to have the majority of the Government warrants because the fat cats and politicians want their Qantas club and free red wine.
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Originally Posted by mates rates
(Post 10768847)
One thing A new Virgin Australia will need is a guarantee from Government that they will give it 50% of the government work.Not allow Qantas to have the majority of the Government warrants because the fat cats and politicians want their Qantas club and free red wine.
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While SIA/SQ's parent Temasek may be rumoured to be interested in a partnership with BGH Capital for Virgin Australia. However, Singapore Airlines (SQ) has ruled out further investment/involvment in Virgin Australia for the foreseeable future. SQ will commit to investing in their Vistara (India) investment, which provides a greater return to the SIA group.
One questions if some of that $13B that Singapore Airlines raised from parent company Temasek may be put aside towards their Vistara (India) investment, which is SQ's only overseas investment at this time. Source: https://www.forbes.com/sites/willhor.../#19c7eb2823b4 |
Originally Posted by TBM-Legend
(Post 10768881)
Really! QF was three times the size of VA with a vastly bigger network. Since when does a public institution have an obligation to split business 50/50 because the airline requirements are tendered not just handed out.
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