The investment fund (ASX: BBI: quote) said BPH also had reached agreement with Westerlund shareholders to negotiate over the remaining 57 per cent of the operator.
Westerlund Group is an Antwerp based port operator specialising in forest products, general cargo and containers. Westerlund operates marine terminals in the Antwerp, in Belgium), Rouen, in France, and Changshu, in China.
In 2007, Westerlund is expected to handle more than 9 million tonnes on a diversified product base, a growth of over 20 per cent on 2006 volumes.
Babcock said Westerlund was one of the two unnamed European Port opportunities yet to be completed that were referred to in a BBI presentation on October 29.
BBI owns a majority interest in BPH.
Westerlund Group is an Antwerp based port operator specialising in forest products, general cargo and containers. Westerlund operates marine terminals in the Antwerp, in Belgium), Rouen, in France, and Changshu, in China.
In 2007, Westerlund is expected to handle more than 9 million tonnes on a diversified product base, a growth of over 20 per cent on 2006 volumes.
Babcock said Westerlund was one of the two unnamed European Port opportunities yet to be completed that were referred to in a BBI presentation on October 29.
BBI owns a majority interest in BPH.