Quote:
Originally Posted by Stormer
Well, I do not know the value of CWB or whether the $250 million goes to the Gov't, but these shareholders have deep pockets and long term strategic and expansion plans. The farmers will get paid future market value for their shares that they paid nothing for. Basically they are loyalty points. This gives producers another marketing option and creates competition.
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The $250M stays with CWB as an "investment". That's where I take issue. They're paying nothing for the company, really. Gerry Ritz tip toes around this, saying it's not quite how it works. When in fact that's exactly how it works. Agreed their plans (CWB plans, not G3 or whomever) are ambitious and good for the region. Gives another option for farmers. But I also take issue with the foreign ownership. I do not like selling out our country, in this case giving it away, which is happening all the time.
The farmers will make some cash over the next 7 years on their $5 per tonne shares or whatever it is. It doesn't really say how that works either. But after 7 years, CWB has the option to purchase the remaining 49.9% of shares, which they will no doubt purchase. Giving G3 100% control. I would've preferred that farmer union based out of Saskatoon.