RE: Theres a fight brewing.24 Jul 2019 18:07
Thank you for your email. While it’s impossible for me to fully appreciate your position, I can only echo Peter’s statement in the announcement that “this is not the outcome any of us wanted for our shareholders”.
The strategic review was always about improving the financial flexibility of the Group and paying down debt. The strategic review generated a number of expressions of interest for parts or all of the Airline, the Nordics and the TO. However, we always said that we would not sell at any price. Having assessed all of the bids received, the anticipated disposal proceeds fell short of what the Board considered fair value for the businesses, and none of the offers would have meaningfully addressed the capital structure and financial flexibility of the Group.
The value of these bids have not been disclosed as they are commercially sensitive.
Kind Regards
Alex