05/06/2007 - 22:00

B&B, Primelife buy retirement homes

05/06/2007 - 22:00

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B&B, Primelife buy retirement homes

Fini Group founder Tony Fini has negotiated a $180 million deal to sell his retirement village portfolio to investment bank Babcock & Brown and prominent retirement village player Primelife Corporation Ltd. If given the green light in July, B&B intends to launch a $300 million minimum capital raising to fund the Fini acquisition, recapitalise the business and provide working capital for potential village expansions.

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