Bloomberg reported that Australian investment fund Babcock & Brown Infrastructure Group may consider a sale of PD Ports Plc, operator of Britain’s third biggest container dock.

Ms Helen Liossis a Sydney based spokeswoman said that Babcock doesn’t plan to hold an auction but will consider a sale should it receive offers. According to two bankers familiar with the business the fund may seek at least USD 1 billion for PD, after buying it for USD 941.5 million in 2005.

Ms Liossis said that “If an interested party approached us with a great price we may choose to discuss that with them, though only if the offer is sufficiently attractive. She added that “It is one of our core assets and there’s a lot of growth in there. It would have to be a very, very good offer.”

Babcock Infrastructure managed by Babcock & Brown Ltd said last year that it would consider selling assets as it seeks to cut borrowing and provide funds for investment. England based PD’s biggest business is Teesport which handles about 6,000 ships and 50 million tonnes of cargo a year.

(Sourced from Bloomberg.net)