old news but worth reading but company which shares are hammered...

old news but worth reading but company which shares are hammered from $ 14 to $ 3 in 6 months can they do it.


Macarthur Coal says it is interested in buying a stake in Babcock & Brown Infrastructure's (BBI) Dalrymple Bay coal terminal, if BBI wants to sell it, reported The Australian.

Macarthur's chief executive Nicole Hollows said "we have a robust balance sheet and will consider opportunities," adding that "if the [Dalrymple Bay] terminal became available we will consider that an opportunity."

It was reported that BBI had put its $2.3 billion Dalrymple Bay coal port up for sale this week, to cover debt and find a partner to fund long-term expansion.

It was thought that BBI had been approached by a consortium of miners interested in buying Dalrymple Bay, and has issued confidentiality agreements to interested parties.

A BBI spokeswoman confirmed that the group was testing the market after port users approached it.

She said selling a stake could help fund the port's expansion, but that this did not mean a sale would happen.

She did not confirm whether BBI would want to limit a potential sale to a 49 per cent stake.

But Ms Hollows indicated that interested parties could be eyeing a bigger slice.