The AFR isn't freely available online, so I can't link to this article. It's quite long, from the Street Talk page, so I'll type in bits and summarise mainly. Apologies for typos, etc.
"Bids for a minority stake in Babcock & Brown Infrastructure's Dalrymple Bay Coal Terminal (DBCT) (up to 49 per cent) were received last week.
"It's still early days - and there's no fixed timetable for getting back to inetrested parties - but it's said there was reasonable interest in the process, which is being run internall by the Babcock & Brown team.
"In particular, it seems this column's view that themining consortium - including heavyweights Xstrata and Rio Tinto - was looking wobbly overstated the issue."
[summary] Consortium members have disagreed, with some pulling out, but consortium remains in the process.
Other logical buyers are infrastructure funds. One likely is Global Infrastructure Partners, a Credit Suisse and GE JV that set up in Sydney last year and previously bid for Asciano.
Others mentioned as taking a look are KKR infrastructure fun and Queensland Investment corporation.
"A 49 per cent stake in DBCT is estimated to be worth as much as $500 million after debt, compared with B&BI's market capitalisation of $170 million.
[summary] Aside from DBCT sale, B&BI board is turning focus to terminating management and advisory agreements with B&B. B&B de facto administration means they're udner pressure to "realise the value" of its management agreements.
BBI Price at posting:
8.4¢ Sentiment: LT Buy Disclosure: Held
