I don't remember this being posted as yet or is general knowledge to this forum:
(Sourced from www.ifw-net.com & Steelguru)
Brookfield Asset bid for PD Ports gets green signal
2009-10-31
Australia's Foreign Investment Review Board said that it has no objections to the cornerstone investment in PD Ports owner Babcock & Brown Infrastructure by Canadian finance house Brookfield Asset Management.
The notification means the deal has overcome its major legislative hurdle, and now only requires the approval of BBI's policy and security holders.
Under the proposed deal, Brookfield Asset Management will become a cornerstone investor, pumping AUD 1.8 billion into BBI and taking 35% to 40% of its stock, while also gaining a 49.9% stake in Dalrymple Bay Coal Terminal and 100% of PD Ports for nominal proceeds, understood to be AUD 1.
BBI has debts totaling nearly AUD 8.9 billion, with AUD 300 million of that due in February, which it previously thought it would raise through the sale of assets, including PD Ports.
- Forums
- ASX - By Stock
- BBI
- Ann: Revisions to AET and D Option Structure
Ann: Revisions to AET and D Option Structure , page-69
-
- There are more pages in this discussion • 12 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BBI (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
JBY
JAMES BAY MINERALS LIMITED
Andrew Dornan, Executive Director
Andrew Dornan
Executive Director
SPONSORED BY The Market Online