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The Labor government won re-election in a landslide last week and is pushing ahead with a spending spree on a raft of infrastructure projects.
Increased competition for the Peninsula Link deal drove the country’s four big banks to agree 10-year loans, pushing beyond their preferred five-year terms.
I Squared, Brookfield and CPPIB are among the high-profile investors considering a bid for the 30-year concession of eight toll roads, Invest India says.
The consortium led by the toll-road operator – including Australian Super, CPPIB and Tawreed – beat competition from an IFM-led team, as Transurban gains control of 16 of the country’s 20 toll roads.
The ACCC gives the green light to a consortium led by the toll road operator acquiring a 51% stake in Sydney Motorway Corporation, but the listed firm will have to publish data from existing concessions to level the playing field.
Prime Minister Giuseppe Conte softens threat to nationalise all concessions but warns of ‘a clear signal of change’ to how they are operated.
The authorities are also demanding resignations and considering fines for operator Autostrade, following the incident in Genoa which killed at least 37 people.
The group’s access to detailed traffic information is at the core of the Australian watchdog’s concerns as it vies with IFM Investors to win approval for the project.
To meet today's deadline, the Transurban-led team had to submit a conditional bid for WestConnex without knowing if it will receive clearance from the competition watchdog in September.
The ACCC’s continued competition concerns and the postponement of its decision until September could also delay the sale process of the toll road operator, with final bids due on 23 July.
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