[Mb-civic] Carlyle Group Explores Acquisition of Port Operations ByBen Hammer The Washington Business Journal

[Ian]

Sometimes I really hate being right...

Peace.

----- Original Message ----- 
From: "Michael Butler" <michael at michaelbutler.com>
To: "Civic" <mb-civic at islandlists.com>
Sent: Wednesday, March 15, 2006 11:45 PM
Subject: [Mb-civic] Carlyle Group Explores Acquisition of Port Operations 
ByBen Hammer The Washington Business Journal


>    Go to Original
>
>    Carlyle Group Explores Acquisition of Port Operations
>    By Ben Hammer
>    The Washington Business Journal
>
>    Friday 10 March 2006
>
>    Private equity firm The Carlyle Group established a team to acquire
> public-purpose facilities such as ports a day after a United Arab Emirates
> company said it would transfer newly acquired operations at American ports
> to a U.S. organization.
>
>    D.C.-based Carlyle Group announced an eight-person team would invest in
> public-purpose infrastructure projects such as ports, transportation and
> water facilities, airports, bridges and stadiums. The team will begin work
> March 13.
>
>    The new infrastructure team had been planned for six months, but the
> Carlyle Group decided Thursday to launch it.
>
>    DP World, a company owned by the United Arab Emirates, acquired a
> British company that manages operations at six U.S. ports, but the House
> Appropriations Committee voted 62-2 on March 8 to prevent it from taking
> control of the ports.
>
>    DP World will transfer the operations to a "U.S. entity," Sen. John
> Warner, R-Va., said Thursday.
>
>    The Carlyle Group, however, doesn't want to be that entity, says
> spokesman Chris Ullman. "We have zero interest in that deal, and we will
> continue to have no interest."
>
>    Rep. Duncan Hunter, R-Calif., and others in Congress are considering
> legislation that would block any foreign company from operating ports and
> other key U.S. infrastructure. If that legislation is approved, it could
> give The Carlyle Group and other private equity firms opportunities to buy
> foreign-owned operations at a discount.
>
>    The new public infrastructure investment group is co-headed by Robert
> Dove, former executive vice president at Bechtel Enterprises, and Barry
> Gold, former managing director and co-head of the structured finance group
> at Citigroup/Salomon Smith Barney.
>
>    "We are at a crossroads of the right market, right private equity firm
> and right team with complementary skills and experience," Gold says in a
> statement. "As a U.S. firm with exceptional experience in government
> contracting, Carlyle is now well positioned to invest in U.S. and other
> infrastructure either alone or as part of a consortium."
>
>    Carlyle's infrastructure team will invest primarily in U.S.
> infrastructure in transactions ranging from $100 million to more than $1
> billion. It will enter into public-private partnerships with federal, 
> state
> and local governments by purchasing projects outright or through long-term
> concessions.
>
>
>
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