The developer is leading a consortium which has been awarded a 30-year public-private partnership contract to design, finance, construct, operate and maintain a new sports stadium in the French city of Nice. The project also encompasses a sports museum and real estate programme.
An agreement to sell the bank’s rolling stock unit could be signed later this month or in early November, with financial close expected a month after. A Morgan Stanley/3i consortium is trying to raise £1.2bn in bank debt and £500m in bonds to fund the acquisition.
Barclays Infrastructure Funds, the infrastructure equity investment arm of Barclays Bank, has closed its sixth infrastructure fund on £645m. The firm claims to be pleased with the final amount given prevailing market conditions since it was launched – despite falling shy of an £800m initial target.
The engineering firm, which holds close to 17% of Canada’s 407 ETR toll road, plans to use its right of first refusal as an existing shareholder to try and buy a 10% stake in the road put up for sale by majority shareholder Ferrovial. The news comes as Ferrovial said it had agreed to sell the stake to CPPIB.
The real estate fund manager has invested £16.7m in the development of a waste-to-biomass power plant in Cambridgeshire, England.
Australian investment bank Macquarie is considering selling its 49% stake in Newcastle airport in the north-east of England, according to a report. The stake is owned by Copenhagen international airport, in which Macquarie owns a controlling majority.
Spence Clunie, former head of Macquarie Capital’s UK and European debt advisory business, is in the process of launching a new business, Ancala Partners, and is understood to be seeking to raise a fund of €750m to €1bn.
Eddie Izzard, patron of the Marathon of Marathons, explains how to keep on running through the pain. After his extraordinary 43 Marathons in 51 days, he should know better than anyone.
Banks are getting a little bolder in lending to infrastructure projects – but there is a limit, writes Andy Thomson.
Hochtief wants the Australian regulator to force ACS to also make a bid for subsidiary Leighton as part of its takeover offer for the German company. If successful, ACS’ bid for Hochtief would have to factor in Leighton’s €7bn market cap, but observers have mixed views about the likelihood of this happening.
Eddie Izzard, patron of the Marathon of Marathons, explains how to keep on running through the pain. After his extraordinary 43 Marathons in 51 days, he should know better than anyone.
The Canadian pension has paid €640m to acquire a 10% stake in Toronto’s 407 ETR toll road from Ferrovial. CPPIB is now the toll road’s second-largest shareholder (40%) with Ferrovial retaining its place at the top of the shareholding tree (43.23%).
Lawmakers can open doors for infrastructure investors as well as close them, writes Andy Thomson.
The infrastructure arm of M&G Investments has acquired full ownership of Meter Fit, a UK owner and supplier of gas and electricity meters, after purchasing a 50% stake from United Utilities for £24m.
The name of his firm may suggest otherwise but Matthias Burghardt, head of infrastructure at Paris-based fund manager AXA Private Equity, believes that it’s difficult to make a case for private equity-style investing and fund modelling in infrastructure.