B&B Infrastructure confirms its independence
Babcock & Brown Infrastructure (BBI) has sought to create further distance from its former parent, Babcock & Brown (BNB), reacting to the announcement of a new Babcock & Brown business plan by confirming that the internalisation of its management arrangements will be completed within weeks.
Babcock & Brown Infrastructure independent chairman David Hamill told the Australian Securities Exchange today that the BBI independent directors did not anticipate any immediate negative implications from the BNB revised business plan and the restructure of its corporate debt facilities.
“It should be noted that BNB and the entities comprising BBI have separate ownership, boards, management and legal structures,” he said.
“The independent directors of BBI have been working through the implications of terminating the various management and advisory arrangements with BNB and anticipate progressing discussions with BNB in relation to the full internalisation of these arrangements over coming weeks,” Hamill said.
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