As far as debt goes, these entities typically have higher debt because they are very asset heavy and there is a lot of infrastructure and build - outs involved. (dividendmantra.com)
Couple of points, FFY is very asset rich — so it could probably take on debt, secured against the assets then use the FCF to pay the debt and pay shareholders — LBO sort of model. (wexboy.wordpress.com)
Over a decade ago, Southcorp, which at that stage owned the prized Australian wine brand of Penfolds and was a separate ASX - listed entity, had a close look at the very asset that Treasury boss Mike Clarke has been scrutinising. (afr.com)