Babcock & Brown Infrastructure Group (BBI)

Stock Code

BBI

Stock Exchange

Australian Securities Exchange

Babcock & Brown Infrastructure Group (BBI) is an infrastructure entity principally focused on providing investors with an exposure to a varied portfolio of quality infrastructure properties. BBI listed on the Australian stock Exchange on 24th of June, 2002. BBI's investment strategy aims at the acquisition, management and operation of quality infrastructure assets across Australia and worldwide. The Company's portfolio is spread across two distinct asset classes: Energy Transmission and Distribution and Transport Infrastructure. The Company is comprised of Babcock & Brown Infrastructure Trust (BBIT) and Babcock & Brown Infrastructure Limited (BBIL). In July 2007, BBI acquired a majority interest in the Manuport Group, a specialty bulk port group situated in Antwerp, Belgium. In August 2007, BBI obtained a majority interest in Terminal Rinfuse Italia S.p.A (TRI), which is a dry bulk port operator based in Italy. Through this transaction, BBI acquired an 80% majority stake in Estate S.p.A, which owns 62.9% of the share capital in TRI. The key assets of the Company incorporate the Dalrymple Bay Coal Terminal (QLD), PD Ports (UK), Powerco (NZ/TAS), IEG (UK), the Cross-Sound Cable (US), stakes in Westnet Rail, NGPL (US), and a range of European and US ports along with a number of diversified ex-Alinta assets.

Babcock & Brown Infrastructure Group History

BBI was formed on 29 April 2002, with a long term lease of DBCT as the foundation asset. It listed on the ASX on 24 June 2002. During 2003, the company acquired a 50% shareholding in Ecogen Power, manger of two power facilities in Victoria, a 50% share in the Redbank Power Station based in NSW and a 50% interest in Wind Partners (GWP), which is a specialist wind energy generation asset fund. In 2004, BBI completed the 100% acquisition of Powerco, a major energy and gas distribution business operating in New Zealand. In 2005, it purchased 100% of IEG, a principal independent gas transporter based in the Channel Islands*, the Isle of Man, Portugal and the United Kingdom. It signed an agreement for the acquisition of Cross Sound Cable in 2005, with approvals received by February 2006.

In 2006, Babcock & Brown Infrastructure Group acquired a 51% shareholding in WestNet Rail, a rail infrastructure business operating in Western Australia. It sold Generation assets to Babcock & Brown Power (BBP) and divested Babcock & Brown Wind (BBW) in 2006. In 2007, it acquired a 51% share in Tarragona Port Services (TPS), a provider of port terminal and maritime freight transport services situated in Spain. In 2007, it announced the acquisition of a majority equity interest in the major specialist dry bulk port operator in Antwerp and terminated the NorthWestern Merger Agreement. It also acquired Terminal Rinfuse Italia Group (TRI) in 2007, a principal bulk port operator in Italy, having interests in three Italian terminals comprising Genoa, Vado/Savona and Marghera.