The Hastings-managed, airport-centric fund owns a number of Australian airports including Perth, Melbourne and Queensland, as well as a stake in Hochtief Airport Capital, among other assets.
Hastings’ directors have told shareholders to accept APA’s takeover offer for the Hastings Diversified Utilities Fund, after a consortium of Canada’s Caisse de depot et placement du Quebec and Utilities Trust of Australia declined to match APA’s A$.135bn to A$1.39bn bid.
The fund manager, through its Australia Social Infrastructure Fund, has bought a 49.9 percent stake in the A$800m LEAP 2 project from Plenary Group. Palisade is now a co-investor in the project, as well as predecessor LEAP 1, alongside Plenary and the Caisse de depot et placement du Quebec.
Ferrovial, BAA’s largest single shareholder, has sold 10.62% of the firm to Qatar Holding for £478m, with Canada’s Caisse de depot et placement du Quebec and Singapore’s GIC divesting 5.63% and 3.75% respectively. Ferrovial now owns 39.37% of BAA.
Aviva Investors and Germany’s SachsenFonds have bought the 49.4MW Almatret wind farm in Lerida, Spain from Element Power. The insurer was recently involved in the ‘UK’s largest residential solar deal’.
The Canadian pension, together with the Utilities Trust of Australia fund, has upped its all-cash offer for the Hastings Diversified Utilities Fund to A$1.29bn. Hastings’ directors backed the consortium’s increased bid over APA’s mixed cash/scrip offer of A$1.33bn.
Brisa’s main shareholders now control the majority of the company. But their IPO failed to net them the 90% needed to de-list the toll road operator from the Lisbon Stock Exchange.
The Australian natural gas operator has formally tabled an increased, A$1.33bn offer for the Hastings Diversified Utilities Fund. The fund’s directors have given rival consortium Caisse de depot et placement du Quebec/Utilities Trust of Australia until August 14 to come up with a counterbid.
Manish Aggarwal is the firm’s new investment and operations director – based in London – whereas Jake Houseman has been appointed senior vice president for the North American infrastructure team, based in New York.
The Spanish developer has agreed to accept the sweetened takeover offer put on the table by Jose de Mello and Arcus Infrastructure Partners and sell its 15.02% stake for €312m.
The investment arm of the insurance giant has bought a 23MW portfolio of residential photovoltaic systems from HomeSun Holdings. Aviva said the renewable deal was ‘one of many we have planned’.
APA has started due diligence on the Hastings Diversified Utilities Fund. If satisfied, APA has pledged to bid A$1.33bn for the fund, trumping a rival A$1.25bn offer from Caisse de depot et placement du Quebec and the Utilities Trust of Australia fund.
The Dutch pension asset manager has spent over $300m buying stakes in two Texas toll roads from French fund manager Meridiam Infrastructure. It also committed to the latter’s North American fund.
A subcommittee of independent directors at Hastings Diversified Utilities Fund has recommended shareholders accept a A$1.25bn takeover offer tabled by Caisse de depot et placement du Quebec and Utilities Trust of Australia.
The Spanish developer has teamed with Portuguese firm Teixeira Duarte to bid for the upcoming privatisation of Portugal’s airports.