- Lesson From Dubai: Start Cutting Risk In Your Portfolio
- Iranian Seizure of British Yacht Pushes Oil Above $77
- Should Homeowners Be Able to Stop Paying Mortgage?
- Buffett's Predictions For Next Year—And Every Year
- The World's Biggest Debtor Nations
- Goldman Sachs Party Ban: No Gatherings of 12 or More
- Fed Tweaking Plan to Pull Money Back out of Economy
- Scientists Gone Wild: Climate Debate Turns Nasty
- Blue Nile CEO: Having 'Best Cyber Monday Ever'
- Treasury Threatens Banks, Not Borrowers
- We're Approaching a Market Bubble: Portfolio Manager
- Hershey Shares: What Options Are Saying
- Nov. 30: Unusual Volume Leaders
- Why Careful Shoppers Are Great for the Box Office
- Blue Nile CEO: 'We're Having the Best Cyber Monday Ever'
- Best Online Retailers to Buy Now: Internet Analyst
- ESPN The Magazine’s Body Issue: A Financial Success
- Cyber Monday: The Last Vestige of Dotcom Hype
MOST SHARED
- Timeless and Time-Tested Warren Buffett Watch Predictions
- Should Homeowners Be Able To Walk Away From Mortgage?
- Governments Must Take Steps To Avoid More Dubais: El-Erian
- Black Friday Sales Disappoint Investors; Amazon Up
- Goldman Sachs Party Ban: No Gatherings of 12 or More
- Blue Nile CEO: 'We're Having the Best Cyber Monday Ever'
- BofA Aims to Clearly Spell Out Credit Card Terms
- Get Paid Six Figures to Wear a T-Shirt?
- Dubai World Set to Restructure About $26 Billion of Total Debt
- Oil Demand Sees Year-Over-Year Rise, First Since 2007
Text Size 
Kohlberg Kravis Roberts, a U.S. private equity firm, is looking at troubled Australian investment group Babcock & Brown, the UK's Independent on Sunday reported.
Citing an infrastructure industry source, the newspaper said KKR had contacted sector specialists in Sydney to find out more about Babcock. "It is rumoured that HSBC has done the same," it added.
The source told the paper KKR was interested in Babcock because it wants to invest the money it is raising for a global infrastructure fund, announced last month.
 |
Babcock's shares have fallen to a level below which lenders can call for a review of the group's A$2.8 billion ($2.7 billion) three-year debt facility.
In a separate report, the Sydney Morning Herald paper reported on Monday that Babcock's Infrastructure arm was considering bringing in outside financing to help fund a 335 million pound ($657 million) port project in the UK.
In an unsourced report, the paper said Babcock & Brown Infrastructure might look to partner with a shipping line in developing a deep-sea container facility at Teesport, northeast England.
Another report, in the Australian Financial Review, said on Monday that Babcock might want to offload its 37 percent stake in unlisted oil and gas firm Coogee Resources.
Babcock invested $232 million in Coogee last year and has seen the value of that investment rise sharply in line with soaring energy prices, the paper said.
Coogee is about 60 percent owned by the Perth-based Martin family. Coogee Chairman Gordon Martin told the paper the family had no plans to sell out of the company.
Some banking sources said Babcock might prefer to hold its Coogee stake until the group's main project, the Montara field off western Australia with estimated reserves of 36.9 million barrels, comes into production. That is slated for December.
Print
Email
- Ever wished your cab driver would stop chatting and just get to where you're going? Well, that moment is closer than ever.
- UPS is giving its customers the option to offset its carbon emissions when sending a package.
- Romania's presidential campaign has been rocked by a video that may show the president striking a 10-year-old boy.
- Raising alligators is hard work, and the fickle taste of rich consumers has just made it much harder, says the NY Times.
- A recent issue of ESPN Magazine was one of its top sellers ever, and it only took scantily clad athletes to make it happen.
- The continued real estate boom in China is partially fueled by a generational flood of newlyweds.
Data is a real-time snapshot *Data is delayed at least 15 minutes