its leasing businesses have been ring-fenced from the
administration of the Australian infrastructural company that
started last week.
lease, are held by Babcock & Brown International Pty Ltd
(BBIPL), which has been separated from the administration of
Babcock & Brown Limited.
Equity Babcock originally acquired in Angel was sold several
months ago to Babcock & Brown European Infrastructure Fund
(BBEIF), the fund which manages the rail leasing business,
according to a Babcock spokesperson.
The decision to place Babcock & Brown Limited into
administration followed a refusal by investors to restructure the
company’s £1.4 billion debt mountain.
Funds which are managed by Babcock, including Guernsey-based
BBEIF and BBAir, will be sold to another fund manager over the next
two to three years.