The retirement arm of Becton, Becton Living, has been at pains over the Christmas period and January to point out that it is not embroiled in the scrappy fight for board control of Becton Property Group or its inherent debt funding issues.
One of the largest shareholders in Becton Property Group, Mariner, has attempted to get its CEO, Darren Olney-Fraser, elected to the Becton board after Goldman Sachs and Fortress Investment Group took over the Bank of Scotland [BOS international] controlled Becton debt totalling $242 million.
Becton Living, with six villages in approximately 1,000 ILUs, negotiated refinancing before Christmas by Stuart Nicolson [Becton Living CEO pictured] with its long-term partner the Oman Investment Fund, an Omani government sovereign fund.
ATO plans to charge GST on manufactured home parks scrapped
A concerted effort by the Residents Association of manufactured home parks has headed off the ATO which had planned to impose GST in mobile homes. This would have added 10% to the cost of the purchase of a home