The listed UK infrastructure investor has taken a 50% stake in Yorkshire’s Pontefract and Pinderfields hospital PFI, as well as adding to existing stakes in two other hospital projects. It has also acquired a small interest in a helicopter aircrew training facility.
The infrastructure vehicle of business tycoon Li Ka-Shing has announced that it is mulling a cash bid for UK utility Northumbrian Water. Cheung Kong Infrastructure already owns several assets in the UK, including the former UK power grid of French company EDF, which it bought for £5.8bn last year.
The results of a new survey present a mixed bag as far as the future of infrastructure investing in Indonesia is concerned. While the potential of the country is recognised, there are strong reservations regarding its legal and regulatory frameworks.
The government wants to lease a proposed high-speed rail line linking London to Birmingham, Manchester and Leeds to the private sector one year after it is completed. Construction of the line would be on balance sheet, but the private sector would be called upon to help fund its stations.
France’s highest court has re-confirmed Atlantia as the winner of a satellite-based tolling system for heavy vehicles. The tender had been annulled by a lower court following a legal challenge by a Sanef-led consortium, the second-placed bidder in the procurement process.
The Canadian pension intends to swap its 11% stake in Sydney Airport plus a cash payment of A$850m for MAp Airport's minority stakes in Brussels and Copenhagen airports. The exchange would leave MAp with 85% of Sydney Airport.
Spain’s airports operator will tender both airports for a period of 15 years, extendable for a further five years. Revenues will come from the exploitation of airport infrastructure, regulated tariffs and commercial activities.
Innisfree’s David Metter made it clear to Parliament that the PFI industry would not accept any talk of rebates if what is really meant by ‘rebate’ is a disguised haircut to investor returns.
The Paris-based fund manager, which is raising a debut €1bn fund for investment in the southern and eastern Mediterranean, has announced the hire of Gary Neville from John Laing – bringing to an end the recruitment of its management team.
Joe Sinyor, an operational expert who has held senior roles at private equity firm Terra Firma and media group Trinity Mirror, is to head Actis’ Value Creation Group, where he will oversee the performance of the firm’s infrastructure and private equity portfolio companies.
David Metter, the head of Innisfree and UK trade body PPP Forum, told Parliament he would reject cuts to contractually agreed PFI returns. He also said he would be ‘unhappy’ with sharing profits from PFI equity sales, but Bill Doughty, head of fellow fund manager Semperian, was open to the idea.
Areva Solar and Wind Prospect are the preferred bidders to develop a 250-megawatt solar thermal gas hybrid power plant. The developers are in talks with equity investors and European and Asian banks to raise A$675m to close the project later this year.
The Spanish construction firm has completed its aim to achieve majority control of Germany’s Hochtief. At the end of last week, ACS was able to lay claim to 50.16% of Hochtief’s voting shares.
Sierra Leone is forecast to become a “renewable energy hub” in Africa as seven organisations sign up to €133m of debt financing for an integrated renewable energy and agriculture project.
A consortium led by Vinci has raised €3.8 billion in debt and equity from ten banks to reach financial close for the €7.8 billion Tours-Bordeaux high-speed rail line, in France.