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DBCT sale next quarter: report

BABCOCK & Brown Infrastructure is reportedly aiming to sell its Dalrymple Bay Coal Terminal in Queensland during the September quarter.

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DBCT sale next quarter: report

Reported by the Australian Financial Review, the company has received at least one offer for complete control of the major export facility.

BBI managing director Jeff Kendrew told the newspaper the company would receive a better result by selling 100% of the asset as opposed to a minority stake.

DBCT is one of the largest coal export terminals in the world and serves 10 northern Bowen Basin mines.

Last year 83.9 million tonnes of coal were exported from DBCT and the neighbouring Hay Point Coal Terminal, which is wholly owned by BHP Billiton Mitsubishi Alliance.

Administrator Deloitte viewed the March collapse of investment bank Babcock & Brown as similar to the failure of insurance company HIH in 2001.

The bank was brought down by over $A3 billion of debt. After the administration process, creditors could have losses in the realm of $650 million.

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