Australian investment group divests port holdings

Sydney: The Sydney-based managed affiliate of Australian investment group, Babcock & Brown (B&B) last week sold a 30% stake in its European ports business. Two investors, Antin Infrastructure Partners and Babcock & Brown European Infrastructure Fund will pay US$170m for a share of one of Europe's biggest port companies, BBI Euroports.

Analysts have questioned the viability of B&B's strategy to establish a global bulk and breakbulk ports group. The group's current port holdings include Australia's Dalrymple Bay and a minority holding in Edinburgh-based Forth Ports.  [29/12/08]