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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: David S. who wrote (5148)	10/15/1998 12:11:00 AM
From: Bob Rudd	Respond to of 78954

David S. Break up FSACF...Well, sort of, they're planning to spin-off portions of holdings to highlight valuation. This from the just released 10-K: The current market value of the Company's 68% stake in First SA Food Holdings Limited is approximately $60 million at June 30, 1998. The Company intends to spin off minority interests in other subsidiary groups which will result in the provision for minority interests increasing in future periods. This will continue to effect comparative earnings per share data. While I'm sure SA holdings is now carrying a lower market value due to submerging markets debacle, this nevertheless indicates underlying value in a co with a current market cap a tad over $7 Million. If there was an eager market for these assets we wouldn't be looking at anything like this valuation.