I read the same inormation. Believe it was posted at the satrt of the Beppa Conversion thread. Not a lawyer or corporate finance expert but I believe they were alluding to something like this.
1. BNB goes into administration (this is still an if) 2. BBIS is part of the BNB group but is solvent as BBI still pays its management fees. 3. The administator demerges BNB into two entites one will be Babcock and Brown Limited the other say, I am a Loser Limited. 4. I am a loser Limited will hold all assets and liabilities except for the shares in BBIS. 5. Babcock and Brown Limited will hold all the shares in BBIS. 6. Under demerger rules the shareholders are the same but the administrator has first call under the any demerger agreement. 7. BBI walks by and says how about we buy Babcock and Brown Limited whose only asset is BBIS and asks the administrator how much they want. 8. BBI buys all the shares in Babcock and Brown Limited. 9. Now BBIS is still owned by the Babcock and Brown Limited, no change in control, no Beppa conversion
Extremely complex but possible. Other options if cashed up may be preferrable.
BBI Price at posting:
5.8¢ Sentiment: LT Buy Disclosure: Held
