Atlantia, SIAS and Mediobanca have paid €290m for the remaining 50% they didn’t already own in three Chilean toll road concessionaires. The seller was Spain’s Acciona.
Burkhard Lohr has resigned from Hochtief, following in the footsteps of chief executive Herbert Lütkestratkötter. His resignation is related to ACS’ eventual takeover of Hochtief, as its holding in the German firm approaches 43%
After refinancing talks broke down, a consortium of banks led by Portugal’s BES has become the new owner of the Isle of Man Steam Packet ferry operator, previously owned by a team of Australian pension funds, advised by Access Capital Advisers, and Macquarie.
Infrastructure Investor recently hosted a roundtable in New Delhi comprising a selection of Indian infrastructure professionals. Here is what they had to say about the market’s challenges and pitfalls.
The fund is to provide more than £22m in loans this month, after which its capital will be fully invested. London-based Gravis expects to tap the market again later this year for a fresh round of fundraising.
Infrastructure Investor recently hosted a roundtable in New Delhi comprising a selection of Indian infrastructure professionals. Here is what they had to say about the market’s challenges and pitfalls.
At a recent Infrastructure Investor roundtable discussion in New Delhi, talk revolved around the issue of whether the introduction of independent industry regulators would help expedite infrastructure processes better, as well as make them fairer.
Norway’s biggest oil and gas producer is considering selling part of its 28.5% stake in Gassled, the owner of the world’s largest offshore gas transmission system. A team of UBS and CDC Infrastructure bought a 9.43% stake in Gassled from ExxonMobil last year.
Funds specialising in infrastructure investments have tripled in size since 2007, according to a report from Deloitte. And despite competition from direct investments, the amount of institutional money invested in infrastructure funds ‘will grow steadily over the next few years’.
Bad memories of structured investment vehicles and a pricing mismatch between the underlying loans and the margins investors were demanding are said to have ultimately derailed the bank’s efforts to securitise £1.5bn of PFI loans.
First-quarter 2011 figures show a growing disparity between the increasing number of infrastructure funds in the market and a decline in the amount actually being raised. While more than $85bn of fresh capital is being sought, only just over $2bn was closed in the opening three months of the year.
Herbert Lütkestratkötter is retiring and will leave the company on May 12. His successor, Frank Stieler, has the blessing of major Hochtief shareholder ACS, which already owns more than 40% of the German company ahead of an eventual takeover.
The Gulf emirate has hired Citibank, Commercial Bank of Dubai, Dubai Islamic Bank and Emirates NBD as mandated lead arrangers and bookrunners for the dual currency, six-year debt instrument backed by future tolls collected through the Salik electronic toll collection system.
To catch investor attention, funds need to differentiate themselves, think smaller, cut fees and have management teams with a track record in the space, writes Bruno Alves.
The international law firm’s Paris office has recruited Christophe Asselineau as a partner from Simmons & Simmons to bolster its energy, mining and infrastructure practices in Africa’s emerging markets.