The UK’s last listed ports operator has agreed to be taken over by Arcus Infrastructure Partners for 1,630 pence per share plus a dividend of 20 pence a share, to be paid by early May. The infrastructure investor already owned 22.8 percent of Forth Ports.
The €235m HSBC Environmental Infrastructure Fund is investing in a project headed by renewable energy firm Eaga. The investment reflects enthusiasm for the UK government’s push for new homes to embrace solar power.
Steve Boulton is stepping down as chief executive of Hastings Funds Management, the manager of the Australian Infrastructure Fund, where he also served as a director. Alan Freer is replacing Boulton for an interim period as Hastings looks to recruit a new head.
The European infrastructure fund manager has just reached first close for its second fund. BNP Paribas contributed €100m with ABP and Greater Manchester pension fund also as investors.
The bank's investment is a significant contribution toward the first close of the Aviva-backed subordinated debt fund. The close scheduled to take place during the first half of the year, according to chief executive Marc Bajer.
Private equity firms have a role to play in infrastructure. They might just have to tweak some of the ways they do business.
The listed infrastructure investor has acquired an additional 5.49% equity and loan note interest in the Dutch High-Speed Rail public-private partnership project for close to €12m.
Fitch argues that ‘although some projects will be forced to renegotiate their debt facilities’, recent retroactive cuts to solar subsidies in Spain are unlikely to jeopardise the long-term debt servicing capacity of large-scale PV projects of at least 1MW in scale.
Peter Noé, head of Hochtief Concessions, has tendered his resignation just as ACS announced that it now holds 37.6% of Hochtief. Once it crossed the 30% treshold, ACS knew it was free to acquire majority ownership of Hochtief on the open market, without having to pay a control premium.
As expected, Spain’s lower house of parliament has rejected a recent amendment from the Spanish Senate that would have overturned retroactive cuts to solar subsidies. But trade bodies are hopeful after the industry ministry promised to “find solutions to prevent irreparable damages” to the sector.
GPs springing fund extensions on their investors should beware a cool reception, writes Andy Thomson.
Ireland needs to embrace public-private partnerships in order to compensate for a steep fall in state investment over the coming years as a result of the dire condition of the country’s public finances. This is the recommendation of a study by financial services firm KPMG and a leading business and employer association.
GPs springing fund extensions on their investors should beware a cool reception.
The ratings agency writes in a recent report that 'infrastructure transactions have demonstrated significant rating stability through the downturn', with the average credit quality deteriorating by less than a notch.
President Benigno S. Aquino III launched five public-private partnership deals yesterday, including toll roads and light rail projects. The first tenders should come to market this month.