off she goes, page-66

This article was posted in the Financial Times today....The sale of up to 49% of BBI'S DBCT looks set to move again soon, with Macquarie capital Advisers expected to pick up the advisory mandate for the port auction. BBI haD BEEN RUNNING THE SALE INTERNALLY, BUT AS PART OF A NEW MANAGEMENT AGREEMENT (AND STAFF DEPARTURES,IF YOU BELIEVE OTHERS) THE BOARD DECIDED TO EXERCISE ITS RIGHT to appoint another advisor.
Gresham is advising the BBI board on the broader separation from the parent and subsequently passed on the DBCT mandate.
If Macquarie is appointed as expected, it will be an important role for the group as it moves to bolster its advisory business and hose down views that much of the Investment Banks revenue is generated from proprietary deals.
It is also unlikely to be too complicated a transaction, as a number of parties have been circling around the DBCT process for some months. A consortium of major miners, including Exstrata is thought to be the most advanced and has held on-off talks with BBI for more than a year. A 49 per cent stake is estimated to be worth as much as 500mill after debt. In the past ,JPMorgan analysts have fixed a 2.8 billion enterprise value on DBCT. The non -recourse debt associated with the coal terminal is about 1.7 billiondeal