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Hi all, sorry to ask a silly question, but what is Babcock & Brown International Pty Ltd? Is it the entity that BNB owns, which actually holds all of the assets (or shares in other subsidiaries that hold the assets)?

If so, is the point of the announcement that while BNB itself isn't going to be subject to the D2E, it will in fact be Babcock & Brown International Pty Ltd, which will mean that BNB will survive, but that it will own (say) 1 share in a company that is about to issue 999 shares to the banks?

I used to hold BNB but was margined out (thankfully), and now hold BBI, so it is of some relevance to me.

Cheers