Babcock & Brown poised for Primelife
A new arm of investment bank Babcock & Brown is soon expected to emerge as the biggest listed retirement living company on the ASX when it brings together Primelife and the unlisted Prime Living Trust.
With around $1.8 billion in assets across Australia and New Zealand, the Babcock & Brown Communities Group is then tipped to raise $300 million and buy out the West Australian–based Fini Villages.
In the past Primelife, under Ted Sent, had a colourful time. Now after a big restructure at Primelife, Babcock & Brown are poised to take charge after a shareholder vote.
Financial commentators say that high yields and capital growth are predicted in the area with the country’s demographics keeping the sector developing as baby boomers age and people in general live longer.
