Brookfield Infrastructure Partners has divested a 23.2 per cent stake in Central Queensland coal terminal operator Dalrymple Bay Infrastructure.
The group has entered into a block trade agreement with Barrenjoey Markets to underwrite the sale of 115 million Dalrymple Bay Infrastructure shares, worth about $428 million.
Dalrymple Bay Infrastructure (DBI) owns the Dalrymple Bay Terminal, near Mackay – the world’s largest metallurgical coal export facility.
Following the sale Brookfield remains the largest securityholder in DBI with an interest of about 26.25 per cent.
Brookfield listed DBI on the ASX in late 2020, with the initial public offering selling a 51 per cent stake.
In a statement, Brookfield said it continued to regard DBI as an attractive investment managed by an exceptional team led by chief executive officer Michael Riches.
Brookfield’s sale of securities materially increases the number of securities freely tradable on
the ASX, making DBI’s inclusion in the S&P ASX 200 more likely in the near term.