In a move that further weakens Babcock & Brown Infrastructure, the company has been forced to sell as much as 40 percent of its Europort business at a 14 percent discount.
According to the Australian Financial Review, B&B Infrastructure made the discounted sale to Antin Infrastructure Partners and Arcus European Infrastructure after investors threatened to pull out.
The problems with asset sales in a difficult market are coupled with falling port cargo volumes and performance criteria contracts that could mean losing up to 25 percent more of the Euroports stake.