Babcock & Brown Infrastructure wants to sell PD PortsFont Size:...

Babcock & Brown Infrastructure wants to sell PD PortsFont Size: Decrease Increase Print Page: Print Bill Lindsay | March 10, 2009
Article from: Dow Jones Newswires
BABCOCK & Brown Infrastructure has hired Royal Bank of Scotland and Dresdner Kleinwort to sell UK ports operator PD Ports.

A spokeswoman for the Australian infrastructure fund company said late yesterday that the joint mandate for the “potential sale” of the operator of six UK ports had been granted, “in reaction to the unsolicited interest” that Babcock & Brown Infrastructure had received.

BBI has already sold 58 per cent of energy distribution business Powerco New Zealand and 30 per cent of its Euroports portfolio as part of an asset-sale program to reduce debt.

The company has also shortlisted potential buyers of a stake in its cornerstone asset, the Dalrymple Bay Coal Terminal in Queensland State.