BBI takes 90% of PD Ports

DALRYMPLE Bay Coal Terminal operator Babcock & Brown Infrastructure announced it had secured control over 90% of the capital of London-based port operator PD Ports.
BBI takes 90% of PD Ports BBI takes 90% of PD Ports BBI takes 90% of PD Ports BBI takes 90% of PD Ports BBI takes 90% of PD Ports

Dalrymple Bay Coal Terminal. Courtesy Prime Infrastructure.

Staff Reporter

BBI said the 90% holding in PD Ports is the threshold required to enable compulsory acquisition once the offer is declared wholly unconditional.

PD Ports will be BBI's second major transport asset, adding to its long-term lease over the Dalrymple Bay Coal Terminal in Queensland, one of the world's largest coal export facilities.

PD Ports currently operates ports and shipping services throughout the United Kingdom, employing 1500 employees spread across 50 locations.

BBI first announced the takeover offer for PD Ports on December 12, 2005.

BBI chief executive Steve Boulton is currently in the UK finalising the offer and was unavailable for comment.

Shares in BBI were steady at $A1.65 in early afternoon trading today.

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