big qty of buyers, page-15

re: bbi results very good! BBI not interested in Pacific National - thank God. l think they have some more irons in the fire - please wait!

Market happy - up to 1.61 this am. After the next acquisition can see sp moving towards $2 barring stuff ups.

AIX figures for various airports come individually. l am looking for big figures out of Melbourne due to Comm Games and expected tourism boost. AIX was up to $2.80 previously so there is plenty of upside. CEU is also doing very nicely at present.

here is quote:
"BABCOCK & Brown Infrastructure has played down speculation it could be eyeing the 50 per cent stake in the Pacific National rail freight business Toll Holdings has agreed to sell if it takes over Patrick Corp.

At the infrastructure fund's half-year results briefing yesterday, BBI chief executive Steven Boulton said Pacific National did not "necessarily fit within BBI's investment criteria".

Given Toll boss Paul Little's reported desire for a financial institution to buy the stake in Pacific National that Toll has agreed to surrender, BBI and its parent Babcock & Brown have been cited as possible bidders.

The speculation has been fuelled by Babcock's recent entry into the Australian rail freight industry through its $853.5 million acquisition of the Australian Railroad Group's "below rail" assets (ie rail track).

Mr Boulton said that rail track acquisition was a very different business to Pacific National, which was an "above rail" business (ie intermodal terminal and rolling stock).

"We look at all sorts of scenarios and all sorts of options, but at this stage there is nothing we are actively pursuing for BBI in that area," he said.