Original article by Amanda Saunders
The Australian Financial Review – Page: 21 : 4-Feb-15

BHP Billiton’s proposed South32 spin-off is slated to debut on the Australian sharemarket by mid-2015. Deutsche Bank’s Paul Young has a valuation of $US13bn ($A16.7bn) on South32, and cautions that the group will have to pursue acquisitions as its scope for organic growth will be limited. He expects South32 to shun BHP’s progressive dividends policy in favour of a payout ratio of 30-40 per cent

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SOUTH32 LIMITED, DEUTSCHE BANK AG, SOUTH AFRICA COAL