Babcock & Brown offloads $1.07bil hospital rights

Posted on 1/07/2008  

Troubled financier Babcock & Brown has offloaded the construction rights to Victoria's $1.07 billion Royal Children's Hospital to a London-based satellite company Babcock & Brown Public Partnerships Limited. The infrastructure company, incorporated in the tax haven of Guernsey, acquired the asset for $91million as Babcock & Brown continues to struggle under $50 billion in debt. The State Opposition wants assurances the hospital is not exposed to any financial uncertainty through the public-private partnership.

« Back