The Council of Ministers has just green-lighted the creation of a holding company for the country’s airports operator, Aena, opening the door for private sector investment in the country’s airports.
Much lower than expected traffic prevented RiverCity Motorway, the owner of Clem 7, from repaying interest on the A$1.3bn of debt it owed to a group of 24 banks. KordaMentha have been appointed as receivers with PPB Advisory serving as administrators to the concessionaire.
The European Commission has authorised the private equity firm to buy Swedish healthcare group Capio’s Spanish division in a deal that could be worth up to €900m.
Contrary to received wisdom, the OECD says pensions will have to be coaxed toward long-term investments like infrastructure.
The Portuguese toll road operator, through a joint venture with India’s Feedback Ventures, will take over the operation and maintenance of the Mumbai Sea Link bridge in late March.
The company is studying the possibility of grouping its parking and logistics operations in a single, unlisted unit – Saba Infraestructuras - which could then be sold to institutional investors.
Pension funds need governments to create or remove regulation to help channel more investments into infrastructure, the OECD said in a recent note. At the moment, less than 1% of pension funds worldwide are invested in infrastructure.
The fund manager has closed its first Canadian infrastructure fund a year after reaching first close on C$175m. The fund will target Canadian brownfield and greenfield projects and has already acquired three assets.
In a ‘blow’ to African private equity, Richard Laing will quit the development-focused fund of funds in early 2012 after the completion of a government review of its activities.
The French developer beat competition from Eiffage and VINCI and is now the preferred bidder to build a €600m military headquarters intended to house the nation’s top officials.
The UK government’s attempts to claw back money from PFI contracts recall the lack of commitment that scared the private sector and forced governments to finance infrastructure from their balance sheets for most of the 20th century.
A committee of Spain’s upper house of Parliament has approved an amendment that can effectively overturn recent retroactive cuts to solar subsidies if it becomes law.
The UK government’s attempts to claw back money from PFI contracts recall the lack of commitment that scared the private sector and forced governments to finance infrastructure from their balance sheets for most of the 20th century.
A taskforce will be deployed to examine UK project finance initiative contracts with a view to determining what savings can be made for the public purse. Romford’s Queen’s Hospital will be the first contract to be scrutinised by the team, with findings to be published in the spring.
Spain’s ongoing economic woes, lower than expected traffic and the government’s tendency to change original concession terms are threatening to collapse two of Global Via’s Spanish concessions.