Bouygues, Eiffage and VINCI need to submit final offers for the €3bn Bretagne Pays de la Loire high-speed rail line by October 13. An extension of the government’s debt guarantee for PPPs beyond December 31 is likely to be crucial for the project to reach financial close.
The Paris-based fund manager has exceeded its target for its debut fundraising by €100m. The ten-year, closed-end fund will focus on acquiring unlisted, brownfield assets located in the Eurozone and is aiming for a 15% IRR.
Public-private partnerships have made their way onto the agenda in California, but constitutional debt restrictions are a possible hindrance. In an exclusive article for Infrastructure Investor, two leading lawyers explore how potential issues can be negotiated.
The Dutch developer has secured support from BTMU, DZ Bank, Fortis, KBC, KfW and the EIB to reach financial close for a €260m section of the Netherlands’ A12 highway. The A12 is the smallest of the Dutch ministry of transport’s two road projects currently in procurement.
The Ferrovial-owned airports operator has announced the sale of its 65% stake in Naples airport to a subsidiary of Italian fund F2i for €150m.
The Dutch infrastructure fund has bought two road assets from renewable energy group NTR with French construction firm Egis picking up NTR’s roads maintenance business. The asset sales netted NTR €50m and mark an exit from almost the whole of its toll roads portfolio.
David Bonderman, TPG’s founder, reportedly has said he is interested in the country’s aviation sector, including airports.
In the build–up to the Marathon of Marathons on 31 Oct, we talk to some of those taking part. Here, Bjorn Tremmerie, a principal at the European Investment Fund, reveals his injury setback, talks of his determination to achieve a top-quartile finish – and reaches for a tulip bulb analogy
A proposal allowing the French government’s €10bn debt guarantee – which can cover up to 80% of the commercial debt used in public-private partnership deals – to be extended beyond its original closing date of December 31 2010 is set to be sent to the legislature next month.
The Swiss firm’s five MoM contenders are in the final stage of their training programme, and their €50k fundraising effort is also on track.
Sponsors, banks and public authorities have started on the ‘long and winding road’ to reaching financial close for the €7.8bn high-speed rail line connecting Tours and Bordeaux. But is an end of year deadline too ambitious to gather €1.6bn in commercial debt and some €800m in equity?
The fund manager is in discussions with a fourth investor to conclude the last stake sale in the ongoing equity syndication of Gatwick airport. The deal could see the Gatwick owner sell a 9 percent stake in the airport for more than £70m, maintaining a 51% controlling stake in the asset.
A team led by Italian developer Astaldi will build a 421-km highway linking Izmir to Istanbul. The highway is expected to generate revenues of $23bn over the life of the concession. Financial advisers Citigroup, Akbank and BIIS are in the early stages of putting together a debt package of close to $5bn.
The German infrastructure group has set up a special committee on its supervisory board to respond to the bid that excludes the two members from ACS currently sitting on the board. It has also hired Goldman Sachs, Credit Suisse and Deutsche Bank to advise it on its options.
Two of Goldman’s infrastructure funds have acquired a combined 80% stake in Endesa’s 3,800-kilometre Spanish gas distribution network for €800m. Endesa will be able to buy back the stake either five years or seven years after the closing of the deal, expected later this year.