Enumerate, I really like your thought process and your...

Enumerate, I really like your thought process and your diligence.

I didn't look to check that European Infrastructure was partially still owned by BnB and find that very encouraging.
It got me thinking.......
One thing that is interesting with all this asset disposal going on (or trying to be going on) is that many of the same banks lent to the same projects. Even though Gatwick is being sold its fair to say that the debt associated with it will be large and effectively the "sale" will be largely a transfer of financing from one bank (or consortium) to another with the owners getting some equity and maybe profit out of it. Based on that its entirely possible that the banks are rearranging their exposures and the BNB bankers might prefer to move Gatwick current owners debt to BNB as they will own BNB and they are secured against the asset anyway - kind of selling to themselves.

Just conjecture on my behalf but if I had lent to both I'd be looking at doing something like that....