AusRAIL, Market Sectors

BBI becomes 100% owner of WestNet Rail

<p>Babcock &#38 Brown Infrastructure (BBI) would take up the 49% of Western Australian rail infrastructure owner and access provider WestNet Rail that it was yet to own, BBI said today (Friday, April 27) without revealing the price.</p> <p>It bought 51% of WestNet Rail last June for $435m with a call option on the remainder that can be exercised between June and March.</p> <p>BBI said it was also looking at European port investments. BBI’s financial advisor, Babcock &#38 Brown Limited (BNB), has secured a 51% interest in a port facility in Spain. The port has an enterprise value of approximately $220m.</p> <br />