This is where the market is totally wrong on BBI. there is a...

This is where the market is totally wrong on BBI. there is a misconception that BBI paid too much for assets.
Their most recent purchase in 2007 (NGPL) was bought for 10.7x EBITDA. This has proced to be a very astute buy.
SEC Gas transacted in April 2007 for 14x EBITDA so that is further proof BBI did not pay too much for its assets.

The only asset I can see where they paid too much was for the Alinta assets and that was part of a BNB deal which has subsequently seen BBP owing BNB $400M.