The Islamic investment firm has acquired Dubai International Capital’s shareholding in the MENA Infrastructure Fund. The latter also counts HSBC Bank Middle East and Waha Capital as investors.
The Hastings-managed, airport-centric fund owns a number of Australian airports including Perth, Melbourne and Queensland, as well as a stake in Hochtief Airport Capital, among other assets.
Deutsche Bank unit RREEF will vie with the Carlyle Group for a chance to run the Port of Virginia. RREEF is offering $3.3bn to operate the port while Carlyle proposes to bid up to $2bn.
Simon Hipperson, a former managing director in London at the New York buyout firm and one of the architects of its Global Infrastructure Partners platform, has been hired by Australia’s Lend Lease as chief executive officer for Europe, the Middle East and Africa.
India’s Comptroller and Auditor General has accused the government of systematically benefitting the GMR-led consortium in 2006’s privatisation of Delhi’s Indira Gandhi International Airport. The government and GMR reject the report’s accusations.
Hastings’ directors have told shareholders to accept APA’s takeover offer for the Hastings Diversified Utilities Fund, after a consortium of Canada’s Caisse de depot et placement du Quebec and Utilities Trust of Australia declined to match APA’s A$.135bn to A$1.39bn bid.
The fund manager, through its Australia Social Infrastructure Fund, has bought a 49.9 percent stake in the A$800m LEAP 2 project from Plenary Group. Palisade is now a co-investor in the project, as well as predecessor LEAP 1, alongside Plenary and the Caisse de depot et placement du Quebec.
Ferrovial, BAA’s largest single shareholder, has sold 10.62% of the firm to Qatar Holding for £478m, with Canada’s Caisse de depot et placement du Quebec and Singapore’s GIC divesting 5.63% and 3.75% respectively. Ferrovial now owns 39.37% of BAA.
Aviva Investors and Germany’s SachsenFonds have bought the 49.4MW Almatret wind farm in Lerida, Spain from Element Power. The insurer was recently involved in the ‘UK’s largest residential solar deal’.
The Canadian pension, together with the Utilities Trust of Australia fund, has upped its all-cash offer for the Hastings Diversified Utilities Fund to A$1.29bn. Hastings’ directors backed the consortium’s increased bid over APA’s mixed cash/scrip offer of A$1.33bn.