Eddie Izzard, patron of the Marathon of Marathons, explains how to keep on running through the pain. After his extraordinary 43 Marathons in 51 days, he should know better than anyone.
Banks are getting a little bolder in lending to infrastructure projects – but there is a limit, writes Andy Thomson.
Hochtief wants the Australian regulator to force ACS to also make a bid for subsidiary Leighton as part of its takeover offer for the German company. If successful, ACS’ bid for Hochtief would have to factor in Leighton’s €7bn market cap, but observers have mixed views about the likelihood of this happening.
Eddie Izzard, patron of the Marathon of Marathons, explains how to keep on running through the pain. After his extraordinary 43 Marathons in 51 days, he should know better than anyone.
Banks are getting a little bolder in lending to infrastructure projects – but there is a limit.
A total of $5.9bn was raised during July, August and September, bringing the total raised through the first nine months of 2010 to $15.8bn. That figure easily eclipses the $10.7bn raised last year, making 2010 the first year since 2007 that infrastructure fundraising will show an up-tick.
The Canadian pension has paid €640m to acquire a 10% stake in Toronto’s 407 ETR toll road from Ferrovial. CPPIB is now the toll road’s second-largest shareholder (40%) with Ferrovial retaining its place at the top of the shareholding tree (43.23%).
Lawmakers can open doors for infrastructure investors as well as close them, writes Andy Thomson.
The infrastructure arm of M&G Investments has acquired full ownership of Meter Fit, a UK owner and supplier of gas and electricity meters, after purchasing a 50% stake from United Utilities for £24m.
The name of his firm may suggest otherwise but Matthias Burghardt, head of infrastructure at Paris-based fund manager AXA Private Equity, believes that it’s difficult to make a case for private equity-style investing and fund modelling in infrastructure.
Bouygues, Eiffage and VINCI need to submit final offers for the €3bn Bretagne Pays de la Loire high-speed rail line by October 13. An extension of the government’s debt guarantee for PPPs beyond December 31 is likely to be crucial for the project to reach financial close.
The Paris-based fund manager has exceeded its target for its debut fundraising by €100m. The ten-year, closed-end fund will focus on acquiring unlisted, brownfield assets located in the Eurozone and is aiming for a 15% IRR.
Public-private partnerships have made their way onto the agenda in California, but constitutional debt restrictions are a possible hindrance. In an exclusive article for Infrastructure Investor, two leading lawyers explore how potential issues can be negotiated.
The Dutch developer has secured support from BTMU, DZ Bank, Fortis, KBC, KfW and the EIB to reach financial close for a €260m section of the Netherlands’ A12 highway. The A12 is the smallest of the Dutch ministry of transport’s two road projects currently in procurement.
The Ferrovial-owned airports operator has announced the sale of its 65% stake in Naples airport to a subsidiary of Italian fund F2i for €150m.