Indeed the bmi engineers all have Lufthansa Technik approvals & now do all of the Lufthansa group line maintenance at LHR.
I expect a deal to be finalized around the opening of the new T2 at LHR. I would expect bmi Engineering Ltd to be absorbed it Lufthansa Technik, the customer service staff along with Menzies to become the main handling agent for T2 & what is left of mainline to be sold to BA following a rather painful downsizing & asset (slot) stripping process by Lufthansa.
I wouldn't be surprised to see Regional retained in some form to link UK regional airports to FRA.
As for baby, I can't see any of the LHR carriers being interested so probably a wholesale disposal to one of the low cost carriers.