Babcock & Brown, cash box take Irish telco slice for $405m.

Australasian Business Intelligence, October, 2005

Byline: Rod Myer

Oct 10, 2005 (The West Australian - ABIX via COMTEX) -- Babcock & Brown (B&B) Capital (BBC) has made its first major investment since launching in February 2005. BBC purchased a 10.8 stake

in Ireland's dominant telephone company, Eircom, for $A350 million, and its B&B parent paid $A55 million for 1.7 per cent.

Therefore, the 12.5 per cent stake has cost $A405 million. According to BBC executive director, Rex Comb, the deal represents a significant discount to the last trading level of EUR2.24 at EUR1.90 ($A3) per share. On 10 October 2005 B&B shares gained $A1.09 to $A18.29.

Publication Date: 11 October 2005

 
BABCOCK AND BROWN...

            
        
    
    	    
                
                
	

		

					 
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