LONDON (Thomson Financial) - Babcock & Brown Public Partnerhips Ltd said it
is buying around 5 percent of Angel Trains' UK rolling stock business for up to
25 million pounds as part of a larger deal for the whole company.
The London-listed company said the acquisition is being made through a
consortium including AMP Capital Investors, Deutsche Bank, funds advised by
Access Capital Advisers and Babcock & Brown European Infrastructure Fund.
Last week, Royal Bank of Scotland Group Plc. said it was selling Angel
Trains to a consortium led by Babcock & Brown Ltd in a deal valuing the
train-leasing company at 3.6 billion pounds including debt.
In Tuesday's statement Babcock & Brown Public Partnerships said it will not
be investing in Angel Trains' international business, which is included in the
wider transaction with RBS.
Its investment adviser commented: "We expect this transaction to deliver
additional strong and predictable infrastructure returns for BBPP. It will be
immediately accretive to shareholders."
Babcock & Brown Public Partnerships also confirmed the potential bank review
recently announced by Babcock & Brown Ltd will not affect it and that its funds
will likely be invested ahead of schedule.
tf.TFN-Europe_newsdesk@thomson.com
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