The A-Lanes A15 consortium, which includes the Austrian developer, is on track to be named preferred bidder on the Netherlands’ €2bn A15 highway PPP. The deal is generating strong interest among commercial banks, with more than 20 said to be looking at it.
Slovakia’s recently elected centre-right government decided not to pursue the PPP route for a €3.3bn stretch of highway after complaining on the campaign trail that the project was too expensive.
The former colony receives most attention for its gaming. One firm sees potential in its leisure industry instead. PERE magazine September 2010 issue
The two shareholders, which together hold 25.86 percent of Abertis, have agreed not to sell their stakes in the Spanish developer for the next three years.
The consortium, known as Atlandes, has been named preferred bidder for the €1.1bn A63 highway in the southwest of France. The contract requires the team to pay an upfront fee of €400m to the procuring authority.
The reputation of toll road public-private partnerships in Australia has been dealt a further blow with the news that the Clem Jones Tunnel in Brisbane has delivered a A$1.6 billion loss for its private owner and operator RiverCity Motorway Group, over the last financial year.
After failing to reach financial close before June’s parliamentary elections, the €3.3bn first stretch of Slovakia’s D1 highway did not survive the change of government, with the new transport minister now scrapping the PPP contract.
The US state issued a request for qualifications yesterday for the management of 17 rest areas and nine welcome centres along its highways. Interested parties should respond by November 10 with a request for proposals to be issued for pre-qualified bidders on December 17.
International Public Partnerships, the London-listed infrastructure investor, released an encouraging set of half-yearly results at the end of last week and expressed optimism in prospects for the UK PPP/PFI market in which it specialises.
Infrastructure doyen Vito Gambarale and private equity veteran Carlo Mammola have joined forces with Berger, Lahnstein and Middelhoff to raise €250m for the Italian mid-market.
The pre-qualified consortia are required to submit fully financed offers by January 31 2011 for the more than 8,000 parking spaces on offer. The contract should be awarded in mid-February.
The directors of Intoll have recommended to their shareholders an all-cash takeover offer of just over $3bn from Canadian pension CPPIB. The bid represents an enterprise value to full-year 2010 EBITDA multiple of 26.6 times - but one Intoll shareholder called it ‘disappointing on a few fronts’.
Russian president Dmitry Medvedev has halted construction for a stretch of the Moscow to St. Petersburg highway, awarded earlier this year to Vinci. The $2bn project became Russia’s first road public-private partnership to reach financial close, in April.
Transport minister José Blanco finally unveiled the projects he intends to tender this year as part of his €17 billion public-private partnership programme. Railways amount to seven of the eight concessions to be tendered in 2010, worth a total of at least €5.7bn.
The sheer weight of capital that’s needed means emerging market infrastructure is certain to be a huge investment theme going forward. But how can investors exploit the space sensibly, taking into account the various risk factors? Evan McCordick of Cordiant Capital looks at the options