Declan 7,333 Posted May 17, 2018 Share Posted May 17, 2018 (edited) @the duck of atholl Thanks for the reply. Presumably without the liabilities the price would be higher? Or are they included in the £124million. i.e. Pay £100m in cash and take on £24m liabilities. Edited May 17, 2018 by Declan Quote Link to post Share on other sites
Mr. Sausages 6,399 Posted May 17, 2018 Share Posted May 17, 2018 I thought of another criticism of the Steam Packet. They are blasphemers. On the pre-recorded so called safety announcement they state that the Manannan is named after a mythical sea god. Why risk the wrath of a god in this way just as the vessel is departing? It's total madness. The govt needs to do away with the so called safety announcement and introduce random sacrifices on departure. 2 Quote Link to post Share on other sites
x-in-man 2,257 Posted May 17, 2018 Share Posted May 17, 2018 ..from the top passenger deck. Quote Link to post Share on other sites
Phillip Dearden 429 Posted May 17, 2018 Share Posted May 17, 2018 1 hour ago, Declan said: @the duck of atholl Thanks for the reply. Presumably without the liabilities the price would be higher? Or are they included in the £124million. i.e. Pay £100m in cash and take on £24m liabilities. No. I do not think we are buying any liabilities. We pay 124m, 76m to MSIOM (that it uses to pay off a loan) and 48.3m to the owners of MSIOM (that they keep). We will end up with shares in MSIOM costing 48.3m and a loan to MSIOM that cost us 76m. For 124.3m we will receive 8 years cash flow (or the right to, we may cancel this right), some boats, some buildings and some stuff (Inventories). 3 Quote Link to post Share on other sites
Albert Tatlock 11,736 Posted May 17, 2018 Share Posted May 17, 2018 Otários! Quote Link to post Share on other sites
Bobbie Bobster 3,422 Posted May 17, 2018 Share Posted May 17, 2018 8 minutes ago, Phillip Dearden said: No. I do not think we are buying any liabilities. We pay 124m, 76m to MSIOM (that it uses to pay off a loan) and 48.3m to the owners of MSIOM (that they keep). We will end up with shares in MSIOM costing 48.3m and a loan to MSIOM that cost us 76m. For 124.3m we will receive 8 years cash flow (or the right to, we may cancel this right), some boats, some buildings and some stuff (Inventories). For completeness on the liability side maybe some short-term creditors. Also on the "assets": staff contracts, operational processes, experience, commercial agreements with third parties, e.g. suppliers, service providers etc. Quote Link to post Share on other sites
finlo 4,930 Posted May 17, 2018 Share Posted May 17, 2018 If if hasn't already been asked, do we get to take on their pension liabilities? Quote Link to post Share on other sites
Lxxx 5,826 Posted May 17, 2018 Share Posted May 17, 2018 So we'll still have to buy some new boats soon but presumably we can offset the repayment against future profits until they're paid off? I've no idea how much they cost. Paging Barrie... Quote Link to post Share on other sites
woody2 5,021 Posted May 17, 2018 Share Posted May 17, 2018 £65m for 2 according to the racket..... Quote Link to post Share on other sites
woody2 5,021 Posted May 17, 2018 Share Posted May 17, 2018 1 hour ago, Bobbie Bobster said: Also on the "assets": staff contracts, operational processes, experience, commercial agreements with third parties, e.g. suppliers, service providers etc. they don't seem like assets more like liabilities...... Quote Link to post Share on other sites
Bobbie Bobster 3,422 Posted May 17, 2018 Share Posted May 17, 2018 (edited) 19 minutes ago, Lxxx said: So we'll still have to buy some new boats soon but presumably we can offset the repayment against future profits until they're paid off? I've no idea how much they cost. Paging Barrie... Cal Mac are getting 2 102m dual-fuel ferries for £97m. "127 cars or 16 HGVs or a combination of both and up to 1,000 passengers " each Ben is 125m: Passengers and crew: 666 Vehicles: 275 Freight: 1235 Lane Metres Edited May 17, 2018 by Bobbie Bobster Quote Link to post Share on other sites
woody2 5,021 Posted May 17, 2018 Share Posted May 17, 2018 (edited) 13 minutes ago, Bobbie Bobster said: Cal Mac are getting 2 102m dual-fuel ferries for £97m. this is what happens when incompetent parish councils get involved-the prices go up....... Edited May 17, 2018 by woody2 Quote Link to post Share on other sites
Non-Believer 12,960 Posted May 17, 2018 Share Posted May 17, 2018 Ah, but we're getting the name - priceless, I tell you, priceless. Cal-Mac vs IoMSPCo....no comparison, even at £124M for two knackered tubs. Not. 1 Quote Link to post Share on other sites
Declan 7,333 Posted May 17, 2018 Share Posted May 17, 2018 2 hours ago, Phillip Dearden said: No. I do not think we are buying any liabilities. We pay 124m, 76m to MSIOM (that it uses to pay off a loan) and 48.3m to the owners of MSIOM (that they keep). We will end up with shares in MSIOM costing 48.3m and a loan to MSIOM that cost us 76m. For 124.3m we will receive 8 years cash flow (or the right to, we may cancel this right), some boats, some buildings and some stuff (Inventories). Are we buying a company worth 48.3m for 124.3m. Quote Link to post Share on other sites
Dirty Buggane 208 Posted May 17, 2018 Share Posted May 17, 2018 Yes 1 Quote Link to post Share on other sites
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