Babcock Prebon Fetches £46.8 Million In Buyout
BROKERS
The receiver for Babcock Prebon, the parent company of foreign exchange broker Babcock Fulton Prebon, has disclosed that executives involved in the September 8 management buyout paid £46.8 million for the brokerage firm and other subsidiaries. Ian Bond of Cork Gulley, the receiver, released the information in a letter to Babcock shareholders last week.
Previous reports in the British press suggested some £25 to £30 million as the price, leading observers to criticize the sale as a too-hasty
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