The Wall Street Journal-20080115-Babcock -amp- Brown Ltd-- Stake in Port Operator Is Increased to 20-4-

Return to: The_Wall_Street_Journal-20080115

Babcock & Brown Ltd.: Stake in Port Operator Is Increased to 20.4%

Full Text (96  words)

Australian investment bank Babcock & Brown Ltd. said it has built up a 20.4% stake in Scottish ports operator Forth Ports PLC, but traders say this is unlikely to prompt a takeover offer for control of the GBP 883.3 million ($1.73 billion) company. Babcock & Brown said its unlisted affiliate, Babcock & Brown European Infrastructure Fund, purchased a 19.6% stake Jan. 11, while the parent holds a further 0.8%. The largest locally listed port operator, Edinburgh-based Forth Ports owns and operates six ports on the east coast of Scotland, as well as Tilbury on the Thames.