Aug. 26 at 2:07 AM
$FECCF At
$5.00 USD per share, the market would be valuing the entire company at ~
$355M USD.
The 35% stake in the ODL pipeline alone pays ~
$65M USD in net cash dividends annually (valued at ~
$350M+ USD on a standalone basis).
Buying FECCF at
$5.00 USD essentially means getting the Puerto Bahía terminal (and its upcoming Ecopetrol LNG regasification project) for free.
If public pricing collapses to
$5.00 USD (a total market cap under
$355M USD), Catalyst Capital Group (~40.6% controlling owner) has every incentive to authorize a Substantial Issuer Bid (SIB). Using existing cash (
$56.3M USD) or incoming ODL pipeline dividends (
$64.7M USD declared for 2026), the company could buy out Gramercy's block at a massive discount, immediately boosting per-share value for remaining holders.