Singapore walks away from P&O

last SG · 2006-02-17T10:34:16+00:00

Wise decision and wise move by PSA. Dubai will be subsidizing this venture all the way with their oil. Its actually a conspiracy by Singapore and UK to reduc...

gill_hfc SG

Atobe has raised a valid question on cost. based on experience, investment bankers and their army of financial advisors do not come cheap in london. on a deal worth $10billion you are definately looking at fees in their millions that would have gone down the toilet. investment bankers in the city of london normally charge anywhere between 0.25-1.5% of the deal value, depending on the size of the deal.

temasek's should have done its homework on P&O ages ago when the DP offer was yet to be tabled. I would have expected Temasek to zero in on P&O back in 2004 when it was facing problems in the local market and their share price was downhill. that would have been the best time to buy. unfortunately we failed to realise its potential back then and only decided to jump in when an offer had been made. based on sources in london Temasek has got its sights on BAA which runs heathrow, stanstead and gatwick. even on that deal they are too late as there are offers already being tabled.

sbst275 SG

Well, I can see PSA is doing find, but coming port projects they will just have to buck up a bit Mr. Green

See, now PSA at its homeport letting ex-big customer to use PPT... No need to guess much you know is which line I am talking abt... They have started to be upgraded to use PPT since this month instead of Brani Terminal

Salman SG

How can the investment bankers take a cut when there is no deal? Please explain.
Do you really think Temasek needs financing for this deal?

sbst275 SG

US Senate demands an inquiry to look into Dubai’s purchase of P&O Ports

Salman SG

I hope they rescind the rights US ports or add more insurance and safeguards to these ports.

Atobe SG

Not only does THE "no brainer" exposes an inability to grasp most basic business dealings - despite his claim of an Economics degree, and an Employer-Businessman - he expose his capacity as a vindictive loser too. Cool

Is it any wonder that PAPa never got him on board GIC and Temasek, despite all the fraudulent display of loyalties of a PAPpy ? . Wink

nightzip SG

Good that PSA withdrewed. P&O is an empty shell actually. Cool

protonhybrid SG

well, i’m quite sure both sides (PSA & DP) knew what was best for their resp. businesses. and they acted accordingly.

Salman SG

I don’t think so, Dubai simply threw money into the laps of Brits. There is no guarantee the port concessions will continue and PSA could well take over these ports once the concessions expire.

Atobe SG

Originally posted by Salman:
I don't think so, Dubai simply threw money into the laps of Brits. There is no guarantee the port concessions will continue and PSA could well take over these ports once the concessions expire.

Sadly, the resident "no brainer" continue to delude himself with his own conceited brilliance. . Cool

The tussle between Temasek and DP World is in the control of the Dubai Port operation presently managed by P & O.

Will the Dubai Government not guarantee the concession to their own Dubai Port World if it is successful in the takeover of P&O ? . Rolling Eyes

Conceit is God's gift to little men. - Bruce Barton

Salman SG

they can keep their Dubai port, but thats only one port. Can that one port support the billions invested?

Salman SG

Temasek does have the expertise for M&O. Why not?
And they certainly don't need outside financing.

Atobe SG

Originally posted by Salman:
they can keep their Dubai port, but thats only one port. Can that one port support the billions invested?

A "no brainer" with an economics degree certainly exercises his faculty with the greatest economy in effort - still need spoon feeding from PAPa ? . Cool

We will believe that DP World will have a greater capacity than our resident "no brainer" in managing their affairs. . Laughing

Don't you have enough on your own plate ? . Mr. Green

Atobe SG

Originally posted by Salman:
Temasek does have the expertise for M&O. Why not?
And they certainly don't need outside financing.

Does a doctor self-diagnose, self-medicate and perform surgery on himself ?

Maybe a "no brainer" will do it. . Mr. Green

Fortunately, billionaires still depend on large financial institutions and legal specialist to help them in their transactions, while their own in-house specialist ensure due diligence and performance are executed.

Can a "no brainer" even appreciate the specialist knowlege and skills required in cross-border take-overs and fund movements ?

Tend to your daily monotonous chores that only a "no brainer" can cope with, and leave the big picture to PAPa - so that we have something to whine over to exercise our brains. . Mr. Green

gill_hfc SG

salman, whether the deal completed or not investment banker fees are payable by temasek here. Temasek/PSA took a couple of weeks of due dillegence thus the time spent on the work undertaken by the investment bankers in london will be billed to temasek. chances are it would be a couple of millions £ judging from the size of the acquisition. nothing comes free in life my dear friend.

Salman SG

Really? We made $60 million the process ands bled Dubai. Great move.

sbst275 SG

Now US is worried… Because of 9-11

Salman SG

Good, maybe Dubai will offload P & O managed ports to PSA at a discount.

sbst275 SG

Unlikely...

PSA gains as they held 5% of P&O shares

But anything can happen, see how HPH tied up with PSA on HPH's HIT

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