"DJ EU Clears Antin IP, Babcock & Brown To Buy Euroports Stake17/03/2009 09:26PM AEST
BRUSSELS (Dow Jones)--The European Commission Tuesday cleared a plan by Antin Infrastructure Partners and funds owned by Australian investment firm Babcock & Brown (BNB.AU) to buy port operator Euroports.
Antin, which is an investment fund sponsored by the French bank BNP Paribas (13110.FR), and Babcock & Brown European Infrastructure Partners will invest EUR121.5 million in Euroports, based in Luxembourg, for a 29.7% stake in the company. Euroports is owned by Babcock & Brown Infrastructure (BBI.AU), a publicly-traded fund managed by Babcock & Brown.
-By Matthew Dalton, Dow Jones Newswires; +32 2 741 1487; [email protected]"
This news came out 9.26 PM AEST. Should be positive for tomorrow, as it means BBI is one step closer to having net €35 million into the bank from the sale.
Disclosure: own BEPPA
BBI Price at posting:
4.5¢ Sentiment: LT Buy Disclosure: Held
