Asset Sale Likely at B&B Communities

Published on

Wilmot, B. and Carapiet, L. ‘Babcock Satellite Goes Solo,’ Australian Financial Review, August 28, 2008, p. 52.

It has been reported today that BBC, managed by the troubled Babcock & Brown Limited, has finalised the results of its strategic review and is expected to unveil a sweeping program of asset sales tomorrow. The review, undertaken by ABN Amro, was begun prior to the current struggles of the Babcock & Brown stock. The developer and operator of aged care facilities and retirement villages across Australia and New Zealand has seen its share price drop sharply since the start of the year as a result of concerns about its debt position. BBC yesterday asked for its shares to be placed in a trading halt at 34.5 cents before the release of the review.

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