MARKETS

Brookfield exec to head Prime Infrastructure

PRIME Infrastructure Holdings has appointed former Brookfield Multiplex chief financial officer Brian Kingston as its new managing director and chief executive.

Blair Price
Brookfield exec to head Prime Infrastructure

Kingston replaces Jeff Kendrew who resigned in order to join Brookfield Asset Management as chief development officer.

Prime chairman Dr David Hamill said Kingston brought with him a wealth of infrastructure management experience.

Kingston helped refinance more than $A3 billion of debt in 2008 and 2009 for Brookfield Multiplex.

Prime changed its name from Babcock & Brown Infrastructure in November, with the company giving up a 49.9% stake in the Dalrymple Bay Coal Terminal to Canada’s Brookfield Asset Management under a $1.8 billion recapitalisation.

DBCT exported 32.1 million tonnes of coal in the six months to the end of 2009, 24% or 10.4Mt lower than what would be expected of an 85Mt per annum terminal in this period.

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