dargie wrote: "BBI is one of the biggest BNB satellites. I have...

dargie wrote: "BBI is one of the biggest BNB satellites. I have no idea how much it would take for BBI to divorce from BNB, but it would take a really large number to shake them off.

More than $100M I expect, maybe a lot more. It certainly would not be that easy."

With all due respect, you are so far off the mark it's frightening. BBI is currently paying ZERO dollars to BNB for "management fees". BNB do not actively manage the assets in the BBI portfolio. BNB's "management fees" in prior years were purely for "advisory" fees in relation to acquisition of assets. BBI are not going to be acquiring assets anytime soon, therefore there is no reason for BBI to "acquire" the management rights. I would not pay one cent for the "management rights", let alone $100M or more and I think you will find that's BBI's view as well. The "management fee" is worth nothing. Why pay for nothing?