The European Commission is proposing to use €230m to fund a test phase for its Europe 2020 Project Bond initiative, to be implemented in 2012-2013. The pilot programme, part of a wider €50bn infrastructure facility, will target up to 10 projects and ‘is expected to mobilise investments of up to €4.6bn’.
The deal sees Siemens Project Ventures reduce its stake in the Indian airport from 40% to 26%, while GVK Power & Infrastructure takes over as the largest shareholder by increasing its interest from 29% to 43%.
Being seeded and providing predictable yield from day one may prove to be the keys to success for new infrastructure funds.
Being seeded and providing predictable yield from day one may prove to be the keys to success for new infrastructure funds.
The Ferrovial-owned UK airports operator has announced that it will sell Edinburgh Airport rather than Glasgow Airport, in response to the competition watchdog’s demand that it sell one of its Scottish airports and London’s Stansted Airport. BAA is appealing in court against the sale of the latter.
The UK PPP/PFI investor has bought a portfolio of six National Health Service LIFT assets. The NHS LIFT programme was launched under the UK’s previous Labour administration to try and deliver improvements in health provision.
The French investor has acquired Axión, Spain’s second-largest operator of terrestrial broadcast infrastructure, from TDF for an undisclosed amount. Last year, Abertis reportedly sought to buy Axión for €154m.
In a new report, the rating’s agency has highlighted the crucial role that Islamic finance could play in funding Asia’s huge infrastructure needs. The region will, however, need to learn the lessons of Malaysia’s approach to regulation.
The EIB is considering investing €25m in the new vehicle. Sequoia has established a partnership with three banks that will provide assets into the fund, which is aiming to reach a first close during this quarter of between €100m and €200m.
A consortium led by VTB Capital and Gazprombank is working to reach financial close on a contract to construct and operate the central section of the St. Petersburg Western High-Speed Diameter toll road. The EBRD will make a final decision on the loan in December.
The London-listed renewable energy investor has added to its burgeoning French wind portfolio with a collection of assets acquired from Eolia Renovables. It has also acquired its first asset in Poland, a market it intends to focus on over the next 18 months.
The London-based European infrastructure investor has successfully refinanced £161m of debt facilities on behalf of portfolio company ESP, the third-largest independent gas transportation business in the UK.
The African Infrastructure Fund 2, advised by Macquarie and Old Mutual Investment Group, has reached final close. About 24% of the fund has already been committed in the transport sector.
Bidders interested in Madrid’s and Barcelona’s airports now have three more months to present their offers. By the time they lodge them, though, Spain will probably have elected a new conservative government opposed to the airport privatisations in their current form.
A survey has highlighted that, despite having an appetite for UK infrastructure, pension funds are being dissauded from investing by the government’s unclear position on the Private Finance Initiative.