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Maksim's avatar

Hi VDL, I agree that Sunrise is not particularly interesting. I own some Liberty stocks and I sold Sunrise shortly after the spin-off.

Be careful with 2024 FCF guidance slide. It's a bit misleading - distributions from JVs (850mln and 300mln) should be divided in half. I don't know why, but they showed full amounts distributed by these companies, even though they get only 50% of them.

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Value Don't Lie's avatar

Thanks for the heads up. I was trying to avoid valuing RemainCo with JV dividends but it makes the carrying value look a bit more stretched. Hmm…

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Maksim's avatar

I would include these dividends, too substantial cash flows to ignore...

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