Babcock & Brown Infrastructure

Australia based Babcock & Brown Infrastructure Group (BBI), which is engaged in the business of acquisition, management and operation of quality infrastructure assets in Australia and some other countries has warned the rebellious exchangeable preference shareholders that it might go for taking legal actions against them for the damages that the company might face if wrong information leads to a turn down of a $1.8 billion worth of recapitalisation.

The future of Babcock & Brown Infrastructure Group (BBI) looks even more uncertain as the company declared yesterday that it might see a $900 million massive hit over its declining asset base. The auditor’s of the company warned that the company might find itself under pressure in the future as far as the present situation is concerned.

Perilya (PEM) was the overall best performing stock taking in a 20.96 percent increase. It was a mixture of toll road development, infrastructure services, steel manufacturing, and mining companies who were among the best performing stocks for the week 28 of 2008 of the Australian sharemarket: Transurban Group (TCL), Babcock & Brown Infrastructure (BBI), BlueScope Steel (BSL), Perilya (PEM), Macarthur Coal (MCC). These best performing stocks managed gains above 10.04 percent by the end of the trading week.