dbct valuation

From the Financial Review today regarding AIO's ports for sale:

"Some are convinced that the strong interest in the ports business will mean the the operation fetches healthy mid-cycle multiples of about 14 times EBITDA, rather that the end of cycle 11 times that had been feared amid the softening conditions in the sector."



So, the consensus is closer to 14 times EBITDA for ports. Now, DBCT is regulated and AIO's ports are unregulated so you cannot strictly compare, however, if we take 2009/10 EBITDA for DBCT of $224M (and that is a low figure in my opinion) and apply the EBITDA multiple quoted by the Fin Review we get a valuation range of $2.46Bn to $3.13Bn.
My estimate of $2.7Bn doesn't look too far off does it?