Acquisitions
In August 2006 managed fund Babcock & Brown Capital announced that it had completed a 65% acquisition of Irish telecommunications company Eircom, with its partner the Eircom Employee Share Ownership Trust Limited (ESOT) holding the remaining 35% of Eircom Group.
In March 2007 Babcock & Brown led a consortium to attempt to buy the Australian energy company Alinta Ltd. The takeover by a scheme of arrangement was supported by the Alinta Board.
In the Irish Independent newspaper it was reported that Babcock and Brown were planning to break up Eircom. Retaining the core backbone Network Wholesale Division and selling the Eircom Retail and Mobile (Meteor) Divisions. It was reported that the retail arm of Eircom could be worth €1bn and Meteor around €800m.
Read more about this topic: Babcock & Brown