Ann: Euroports - Co-investors take 29.7% interest, page-10

re: Ann: Euroports - Co-investors take 29.7% ... It won't make a huge financial difference to BBI, but it all helps and it does show they are trying to sell assets. And the path is there for someone else to come in a buy more.

What is really need is a big asset sale of $1B or more and I suspect now that the only think that is sellable of that size within a reasonable timeframe will be Dalrymple Bay.

It would be a pity to sell this asset as I think it has huge growth potential, but it could be a case of needs must. Still, I decent sized asset sale with the corresponding reduction of the recourse debt and then use the balance to steady the ship and pay off a chunk of the corporate debt is just the boost that BBI needs.

If they can get the corporate facility under control and all other short term commitments squared away, then they can get on and use the operating cashflows from the assets to start to repair their balance sheet.