BRISBANE: Brookfield Infrastructure Partners has agreed to sell approximately 23.2% of its stake in Dalrymple Bay Infrastructure Limited (ASX:DBI), the company announced Thursday.
The sale involves 115 million stapled securities through a block trade agreement underwritten by Barrenjoey Markets Pty Limited. Following the transaction, Brookfield will retain a 26.25% interest in DBI, remaining its largest shareholder.
Brookfield, which listed DBI on the Australian Securities Exchange in 2020, had held a 49% stake prior to the sale. The firm has agreed to a 180-day escrow period for its remaining shares, with standard exceptions outlined in the agreement.
In a statement, Brookfield praised DBI’s management team, led by CEO Michael Riches, and reiterated its confidence in the investment. The sale is expected to increase liquidity for DBI’s shares, potentially paving the way for inclusion in the S&P ASX 200 index.
Brookfield confirmed it is unaware of any undisclosed information that could materially affect DBI’s share price.
Dalrymple Bay Infrastructure, headquartered in Brisbane, operates a major coal export terminal in Queensland.