MBL is rumoured to be very interested in the port assets that...

MBL is rumoured to be very interested in the port assets that Dubai ports have to divest.


It is one are in its fund structure where it DOES NOT have assets.

It has...

(1) Tollways...................

(2) Airports......................


(3) Communication Towers..................

(4) Radio and Media................

(5) Property....................

(6) Water Supplies in the UK

(7) Car Parks etc in the US


................what have I left out?


Wind Energy and POrts are missing.....


MBL already has a vehicle listed inthe US...........MIC


MBL is adept at recognising local sensitivities.....joining with Eiffage for SANEF


..and MIG is in the midst of a big review of capital management

...which may result in 2 MIGS...............

...one of which will be in the US................


You have got to say............this is active management........

Mac Bank 'lobbying' for US ports bid
From: By Robert Clow
April 26, 2006
MACQUARIE Bank is reported to be lining up a bid for part of America's waterfront, eyeing several US ports being sold by Dubai's DP World as part of its acquisition of P&O Ports.

Macquarie (mbl.ASX:Quote,News) yesterday declined to comment on a report that it was lobbying the US Congress to buy the six ports Congress barred DP World from acquiring, on security grounds, as part of the P&O deal.
Congress refused to countenance the idea of an #R#B company buying the six ports because of concerns over port security.

DP World agreed to divest the US ports rather than jeopardise the entire deal.

Although Macquarie's (mbl.ASX:Quote,News) interest in the ports is unconfirmed, they would be a logical extension of its existing interests.

The ports would be in Macquarie's infrastructure "sweet spot", and an Australian bank would probably be in a stronger position on security issues, especially given that Australia is a US ally in the war against terror.


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Macquarie (mbl.ASX:Quote,News) could also list a US vehicle to buy the ports, which the investment bank could manage, generating base and performance fees.
On Monday The Financial Times reported that Macquarie had started lobbying to buy the ports. But it is possible that the rejection of DP World was not just about security, but also reflected increasing US economic nationalism.

Macquarie Infrastructure Group chief executive Stephen Allen has said that when MIG was buying the Indiana Toll Road, the single most contentious issue was the idea of selling an American road to Australians.

MIG is reviewing its structure now to see whether, among other things, it would make sense to list in the US. Macquarie has shown itself adept at managing nationalist feelings.

When the French Government sold the Autoroutes Paris Rhin Rhone, MIG and its sister fund, the Macquarie European Infrastructure Fund, partnered with Eiffage, a French construction company, and agreed to take a minority stake in order to get the asset.

Australians have been eager port buyers.

Last year Challenger and Industry Funds Management bid for Britain's PD Ports, only be outbid by Babc@ck & Brown.

Furthermore, the Dubai Ports deal has sparked a wave of consolidation in the industry.

Ports were at the centre of Toll Holdings bid for Patrick Corp; last week Hutchison Port sold a 20 per cent stake in its business to Singapore rival PSA for $5.9 billion; and Goldman Sachs has launched a $5.3 billion bid for Britain's AB Ports, which the ports company recently rejected.

Aside from the fact that the ports sector has been fairly fragmented until now, infrastructure investors are also drawn to ports because they tend to offer high internal rates of return compared to infrastructure's more popular areas, such as toll roads and airports.

Goldman's new-found interest in ports could spell a problem, given that it is a genuinely American company with deep pockets.

Macquarie's New York spokesman declined to comment.