And you called it ! This news is further confirmation that Senda cannot find a banker who can fund a USD 600-plus million deal needed for the acquisition of Kiri’s shares in the absence of a guarantee from Longsheng. The current macro situation in China will only make it doubly more difficult to secure that kind of money. Net Net, it is going to bring down the high valuation for Kiri’s stake, meaning Dystar will be re-valued and most likely way lesser than the original valuation of USD 1.6 billion. Even after this, it will take forever for this deal to fructify given the involvement of Chinese regulators.
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