Macquarie to advise Babcock & Brown Infrastructure on sale of coal terminal

The Australian Stock Exchange-listed infrastructure fund said that the Dalrymple Bay Coal Terminal in Queensland has attracted interest ‘at both the minority and 100 percent level’.

Babcock & Brown Infrastructure has appointed Macquarie Capital Advisers to advise the sales process of Dalrymple Bay Coal Terminal (DBCT).

“The price discovery process for DBCT recently concluded and interest was shown at both the minority and 100 percent level,” according to a statement from the firm.

Located in the northeast Australian state of Queensland, DBCT is a port facility for the receival, preparation and export of coal. It is one of the largest coal terminals in the world, with a capacity of 72 million tons per annum (mtpa). An expansion plan to be completed in June 2009 will increase its capacity to 85 mtpa.

In the same week, European Union regulators have fast tracked the sale of Babcock’s & Brown Infrastructure’s 29.7 percent stake in port operator Europort for €155 million ($210 million). The sale has been rushed through since it will not impact competition among European ports, according to the Journal of Commerce.

Babcock & Brown Infrastructure is in the process of internalising its management agreement and separating from infrastructure asset manager Babcock & Brown, which went into administration two weeks ago.

Its infrastructure holdings consist of PD Ports located in Northern England and a 76 percent interest in WestNet Rail located in Western Australia.

Macquarie Capital manages listed and unlisted specialist funds and pursues investment banking activities worldwide.