Babcock & Brown Wind Partners, the wind energy producer managed by Babcock & Brown, plans to buy back as much as 10% of its shares because it believes the share price doesn't reflect the value of its assets.
The shares will be bought on the market over the next 12 months and the purchase will be funded from existing cash and proceeds from asset sales, including the divestment of assets in Spain, announced last month, Sydney-based Babcock Wind said today in a statement to the stock exchange.
Bloomberg
BBP Price at posting:
9.0¢ Sentiment: Hold Disclosure: Held
