Bruno Alves
The €1.1bn fund – formerly known as ABN Amro Global Infrastructure Fund – has bought a 49% stake in two roads and two transport hubs in Spain owned by Sacyr for €47m. The deal may signal the beginning of a longer-term partnership between the two companies.
The Scandinavian country’s debut rail PPP is in the market with interested parties asked to submit their requests to participate by November 8. A forthcoming roadshow in Brussels will also outline the procurement process for a road PPP, to be tendered later this year.
The Australian toll road operator has again said no to a takeover bid from CPPIB, OTPP and CP2 on the basis that their A$7.2bn offer was too low. The rejection raises the possibility that the bidders – which hold 40% of Transurban – will now choose to sell their stakes and exit the company quickly.
Two new investors have joined the Natixis-sponsored fund as it holds its fourth close at just over €700m, placing it on track to reach a final close of €1bn by the end of June.
The UK’s biggest university campus developer, UPP, is set to be split into different vehicles by owner Barclays and partially sold in a process that could raise up to £800m for forthcoming projects. The division could attract institutional investors and property developers for the different parts of UPP’s business.
The Australian toll road operator has picked up the distressed road for A$630m – almost A$1bn less than the original consortium paid for it three years ago. Canadian pensions CPPIB and OTPP, which are bidding for Transurban, are reportedly angry with the purchase as they plan to meet with Transurban today to discuss a revised takeover bid.
Abu Dhabi’s sovereign wealth fund has spent some A$225m to acquire 8.6 percent of Intoll, a spin-off from Macquarie Infrastructure Group. In becoming its third-largest shareholder, ADIA has prompted speculation that it may take over the roads vehicle.
Confirming an earlier report, a source says Global Infrastructure Partners is gearing up to start fundraising for its second infrastructure fund. The new vehicle is reportedly aiming for between $5bn and $6bn.
Public entity Transport for London has bought Bechtel and Amey, a Ferrovial subsidiary, out of Tube Lines – the private sector consortium tasked with upgrading London’s underground rail – for £310m. Mayor Boris Johnson is happy to be free ‘from the perverse pressures of the Byzantine PPP structure’.
The Italian infrastructure investor is suing Citigroup over the failed placement of an infrastructure fund in 2007. It is said to be looking for €100m in damages, according to the local media. Citi denies any wrongdoing and says it will 'vigorously defend' itself.