Forum Archive Index - January 2000

[rebecca bibby <rlbibby@netscape.net>]

The recent interest in Savoy stocks is interesting.  To the best of my
knowledge, Savoy has always been a property development company with its
stocks trading at very low prices.  The company has recently annnounced it is
buying the Hyatt Regency and developing some of the surrounding land.  To do
this, Savoy has borrowed substantial funding from two major overseas
financiers and will need to make regular payments to cover the loan
facilities. 

In the beginning of 1999, Savoy decided to get rid of its Dairy Brand shares,
and this has been done progressively since then.  The last of these shares
were sold last week.  It is more than likely that proceeds from this sale will
be used to meet the first payment of Savoy's Hyatt funding facility. 
Considering the company's past sole focus on property development, and taking
into account the fact that any diversion from this path will probably see its
current funding facilities cancelled (seeing that financial organisations are
averse to lending to companies with e-commerce designs), the recent interest
in Savoy stocks is surprising.

Anyone else with a view on this?

 Cheers, Rebecca 


Disclosure:  I do not hold SVY stocks.   


        

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