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John Lim must have thought the alliance to be pretty valuable for him to sell the majority stake of his baby to STC.
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John vs STC, who is the smarter money?
Who is getting paid? And who is paying?
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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Look like the deal benefits STC more than ARA.
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Instead of ARA coughing up 100M seed capital. John Lim is coughing up the capital. To cough up this capital, he sold 10% of his ARA stake.
The private fund is slated to be $1bn.
John Lim wins: (a) Cash Out AND (b) return on private fund capital
ARA wins: (a) Extra AUM. (d) Payout performance fees of Divestment © Avoid the $100M seed capital
ARA loses: JL now has a reduced stake.
Did I miss anything?
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28-10-2013, 11:25 PM
(This post was last modified: 28-10-2013, 11:32 PM by pianist.)
stc on one hand is teaming up with far east orchard in a joint venture (from the late ng teng fong's empire), on the other hand now is teaming up with lee ka shing's side..
I think stc could be one sly entity to watch out for (look at how it beat off value from OCBC's UE during the recent bidding war over WBL
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Maybe I am biased against against STC. Just not impressed with their original fight with OCBC over control of STC. loaded up with debt just before the crisis. Worst timing.
The party on the other side are the smartest money around. Best record for selling near peak.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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^^ That's my observation as well. Maybe not best record but pretty good... probably tips from a page of Superman's books
And Superman tends to sell 6-12 months early.
IMHO probably best record in feeding themselves silly
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
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john lim and LKS wins man, they should out their stakes at such a high valuation! sweet ^_^
ARA seems wayy~~~ overvalued at over 20 times earnings
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