In the case, it is assumed, that selling CoalCo will result in an increase in Free Cash Flow of 2.695 Billion. Why are the revenues generated through selling the power from CoalCo not considered in this calculation?
My intention was to calculte Operative Cashflow first: (Revenues of CoalCo - Operation Costs of CoalCo. Therefrom, it could be followed how much cash the company generates or bruns on a yearly bases through operating CoalCo).
Subsequently, I would have used this number to calculate the present value of the cashflows associated with operating CoalCo.