InforCapital
M&A Transaction•

Brookfield Divests Stake in Queensland-based coal export facility - InforCapital

Brookfield Infrastructure Partners has sold 115 million Dalrymple Bay Infrastructure shares for about A$428 million.

AM
Alvaro de la Maza

Partner at Aninver

Key Takeaways

  • Sector: Transport Infrastructure & Services (traditional).
  • Geography: Australia.

Analysis

Brookfield Infrastructure Partners (BIP) has entered a block-trade agreement to dispose of 115 million stapled securities in Dalrymple Bay Infrastructure (ASX: DBI) for approximately A$428 million, reducing its stake by 23.2 percentage points.

The shares were placed with institutional buyers at an 8 % discount to the prior close, boosting DBI’s free float and improving the prospect of the company joining the S&P/ASX 200 index during the next re-weighting cycle.

Brookfield retains a 26.25 % interest in DBI and has agreed to keep the remainder of its holding under escrow for 180 days, underscoring its ongoing commitment to the business.

BIP floated Dalrymple Bay Infrastructure on the Australian Securities Exchange in December 2020, initially retaining roughly 49 % of the company. This week’s transaction marks its first sale since the IPO.

Dalrymple Bay’s cornerstone asset is the coal terminal at Hay Point, Queensland—an 84 million-tonne-per-annum export facility serving miners in the Bowen Basin. The operator posted a 10.6 % rise in net profit to A$81.8 million in the second half of 2024 and is evaluating bolt-on acquisitions along Australia’s east-coast coal corridor.

In a statement, Brookfield said it “continues to regard DBI as an attractive long-term investment managed by an exceptional team”, adding that the larger free float should enhance liquidity and broaden the investor base.