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Apache (APA -2.1%) should sell its assets in Egypt, which have dragged the company’s...

Apache (APA -2.1%) should sell its assets in Egypt, which have dragged the company’s valuation by 20%-30% and is likely to get worse given the country’s "dysfunctional government, deteriorating economy, polarized society and exploding population," Oppenheimer says, adding APA should use the proceeds to buy back 15% of its shares and reduce debt.
Comments (1)
  • PalmDesertRat
    , contributor
    Comments (2592) | Send Message
     
    if selling the assets and buying back stock and debt really works, that means that the assets are worth more than the stock and bonds being purchased.

     

    I would keep going with the Egyptian business.
    23 May 2013, 12:06 PM Reply Like
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