Aggregate/Vivion - comment

This morning both companies announced a very beneficial deal for both parties. Vivion are buying two properties out of the QH complex for €456m. Half of which roughly will be paid with the 2024 bonds outstanding to Vivion. We are enquiring about the other half as this amount would be very convenient to address the VIC bonds, but we have questions about the €150m convertible at Aggregate Holdings Deutschland S.a. and the company’s ability to dividend the second amount past this paper or send it off to another group company. In total however, we are sure it will work as that was the reason for the transaction in the first place. Aggregate have runway now and Vivion have value.