Sydney-based Babcock & Brown Infrastructure (BBI) will consider selling 100% of PD Ports in the UK, all but 15% of BBI Euroports and at least 49% of Queensland’s Dalrymple Bay Coal Terminal (DBCT) as it tries to get debt levels under control in the wake of the collapse of its parent, investment bank Babcock & Brown (B&B).
B&B went into voluntary administration on 13 March after New Zealand investors voted down a A$3.2B debt restructuring proposal. But BBI chief executive Jeff Kendrew said the administration would not have any direct effect on BBI’s asset sale process, its businesses or its operations....
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This complete item is approximately 300 words in length, and appeared in the March 2009 issue of WorldCargo News, on page 8.
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