If I'm reading this correctly27 Mar 2025 07:50
It appears that LN have a 20% interest in LNE spa, who own 90% of CS. Therefore LN effectively own 18% of CS.
LN have the option to buy the other 70% of LNE spa for $12m. Money that they do not have. From memory, they have a bout 300,000 in the bank.
Therefore LN need to find $11.7m from somewhere, which is looking unlikely. Unless they go cap in hand to RBD and ask for the funding to be arranged for them.
As absolutely nobody in their right mind are going to throw £11.7 in S&S's direction to spaff up the wall, that can only mean a placing.
The question is, at what price?
Please feel free to correct me if I am wrong.