I doubt BNB are selling BBI!
If they do, they would be realising lower asset values, which could put them in breach of their debt covenants...although their statement to the market the other day puts a cloud over this?
If anything, it would be in BNB's interest to completely loosen BBI's management agreement or sell it on to another infrastructure company (e.g. AIO, TSI). And sell their stake to the new manager, or in doing so seeing the share price move back into a more respectable territory which will ensure that they are not in breach of their debt covenants. A loss of income, I know, which does not help their Income/interest ratio. But it would ensure that it survives a bit longer, to see if they can sell their supposedly lucrative wind farm assets.
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