The Queensland Government has announced the sale of a long-term lease on the Dalrymple Bay Coal Terminal (DBCT) to an international consortium headed by investment bank Babcock & Brown (B&B).
DBCT at Hay point, south of Mackay, is one of the world's largest coal terminals and handles some 25 per cent of Australia's exports. The B&B-led group is paying A$630 mill, which is reportedly up to A$200 mill less than a National Australia Bank (NAB) consortium - previously thought to be the favoured buyer - had proposed. NAB withdrew from the sale process citing "modelling errors."...
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Approx 400 words from WorldCargo News, October 2001,
page 7.
