malcy blog14 Aug 2015 12:25
The situation at Afren appears to get worse and I cant help but feel that there is something very suspicious going on here. I read with interest that leading oil trader Gunvor has expressed an interest in some of Afren’s African assets which must be good news for the investors who may lose everything. However I also note that they have been given only until August 17th to come up with a bid on the assets they are interested in. How can it be possible to value and do even the vaguest of due diligence in a week, and also if the administrators are doing their job, surely any possible interest must be explored to the maximum benefit of all who have lost money? And they are saying its not a fire sale which doesnt rub with the above, unless they have other buyers in the wings… The administrators appointed by the company are Alix Partners but maybe questions should be asked of the Ad Hoc Bondholders Committee and also why Blackstone are involved, who they report to and why? Oh well, i’m sure there is a totally innocent explanation… - See more at: http://www.malcysblog.com/2015/08/oil-price-afren-and-finally-2/#sthash.fiY2ho4N.dpuf