The latest deal to hit the shelves from its infrastructure group is a 29.7% share of its European ports interests, which will be going for around \u00a2121.5m ($159.8m). This move follows BBI’s sale of a portion of its massive Dalrymple Bay coal operation in homeland Australia.<\/p>\n
The co-investors are Antin Infrastructure Partners, who are buying a 19.9% stake, and Babcock & Brown European Infrastructure Fund (an unlisted fund of B&B’s) who are purchasing a 9.8% stake of BBI Euroports. This places the total equity valuation of the Luxembourg-based group at \u00a2409.1m ($573m). However, after commitments, BBI will only receive around \u00a235m for this share sale, and this is earmarked to repay a short-term debt.<\/p>\n
Under the terms of the transaction, Antin IP and BBEIF have the right to pursue an increase in their holdings to 49% in total. This, says BBI, is in line with its intention of ultimately selling down to a residual holding of between 25% and 50% in the group, a strategy aimed at bringing in partners and keeping the group’s value as a whole entity, rather than the selling off of individual port assets piecemeal.<\/p>\n","protected":false},"excerpt":{"rendered":"
Troubled Australian bank Babcock & Brown\u00a0 is continuing to sell off port businesses in an attempt to fill the holes in its books.<\/p>\n","protected":false},"author":8,"featured_media":7363,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[],"sponsor":[],"class_list":["post-7362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/7362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/comments?post=7362"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/7362\/revisions"}],"predecessor-version":[{"id":7364,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/7362\/revisions\/7364"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/media\/7363"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/media?parent=7362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/categories?post=7362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/tags?post=7362"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/sponsor?post=7362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}