International investment and specialised fund and asset management group Babcock & Brown has agreed to sell its rights to manage Babcock & Brown Capital under the Management Agreement between Babcock & Brown and BCM, subject to BCM shareholder approval. Pursuant to the agreement Babcock & Brown will also support the Board of BCM in conducting a review of its portfolio of assets which may lead to a change of control of BCM or its underlying assets and which will also involve responses to expressions of interest already received in relation to BCM.
chael Larkin, CEO of Babcock & Brown said,
