LONDON (Thomson Financial) - Babcock & Brown Public Partnerships Ltd. said
it has agreed to buy the new Royal Children's Hospital public private
partnership project in Melbourne, Australia, for about 44 million pounds.
The company said the investment will trigger the conversion of its C shares
into ordinary shares.
The project will start in December 2011, with demolition of the present
hospital to be completed by December 2014. The concession for the project
expires in December 2036, the company said.
Babcock said it expects the acquisition to be immediately accretive in terms
of yield and invested rate of return.
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