euroports looking to expand in italy, page-5

Hi,

In my considerably humble opinion,

I don't think it is a matter of Brookfield being outsmarted in that aspect of the Euroports Sale Arrangements BBI made with Arcus and Antin back in 2009. The terms were published at the time so would be part of the price factor which as you know went very well for Brookfield.

What I do think though is this, Arcus grew out of a Babcock and Brown company specialising in European Infrastructure Investments, same execs etc, did a buyout I think and made it private, so it looks like milking or "Gifts for the boys" to me. Just like the ex financial officer of BBI happened to go to Hastings and they happened to have a lot of Beppas and you know the rest.

In Brookfield's list of global percentages, BIP now have about 20% in Europe and they mention that their target for Europe is 10%. That may come about via this "GFC induced non-performance clause Gift", I cannot be sure precisely on exactly how much it will change. I really thought there was a chance of this clause not happening as European Indexes have been good and especially Germany has been going very well.

As far as BIP price goes, it is very diverse and there are other factors happening such as ready credit is now up to 700m for acquisitions. I will leave the financial income analysis up to the number crunchers thanks, or rather please would someone comment on what effect it may have.

That clause has been in my mind since it was made so when the Arcus purchase of Forth came up plus the possible Italian expansion of Euroports, I thought it needed another visit. If they are considering buying into Italy, it is either a bargain or on the cusp of turning or both.

It would be interesting if the new European director is behind this or if it is Arcus pushing it.

ifandwhen