A new law is set to be approved in February that will allow the government to launch a three-year, €15bn infrastructure programme, to be procured in conjunction with the private sector. The new law will allow the government to guarantee private sector debt.
Transport minister Lars Barfoed says successful completion of the pathfinder project could pave the way for more road PPPs. The Strabag-led consortium will invest €148m in the M51 road but will receive availability payments from the Danish government.
MVision, the private equity placement agent business led by Mounir Guen, has appointed Mitchell Sikora and Scott Arden from JT Partners to boost its real estate services offering.
The French-Canadian partnership has acquired three wind farms in France from renewable firm Theolia for €73m. The new farms add 47 megawatts to Boralex's European wind portfolio.
The new company – provisionally called Veolia-Transdev – would become one of the world leaders in passenger transportation and plans to attract new investors via a public listing.
The fund has $107m of initial funding and, in exchange for the payment of premiums, will protect investors against unfavourable policy decisions affecting PPP projects.
PensionDanmark and PBU have agreed a €100m co-investment in a renewable energy fund run by a third pension, AP Pension. In a separate development ATP, a fourth Danish pension, will channel €1bn to a climate change fund.
Glenn Stone, project finance partner at financial adviser Grant Thornton, in the UK, has been appointed head of infrastructure for the firm’s US division. The firm will target high-speed rail in the US.
Government guarantees, a €1.5bn European infrastructure fund and the overarching presence of the European Investment Bank marked Europe’s infrastructure-friendly response to the crisis.
The Dallas Police and Fire Pension System’s successful partnership with Cintra on the $2bn North Tarrant Expressway project set a precedent for LPs’ direct infrastructure investment in the US market. Could it be the start of a new trend?
Midway’s failed $2.5bn lease showed that a major US airport can indeed be privatised. To resurrect the deal in a politically viable way, Chicago will need a bid that matches or tops that price, and in 2009, at least, few saw that as a possibility.
InfrastructureInvestor looks back at 10 of the top infrastructure bankers operating in 2009. Chances are that in 2010 some of these financiers will lend their balance sheet to getting your next infrastructure deal done.
DIF has acquired 50% of Amey’s portfolio of 10 PFI projects while the Innisfree PFI Secondary Fund has scooped Kier’s 50% interest in two schools projects.
Matrix, AAC, Apax and LDC are among firms ending 2009 with fresh deals. Meanwhile, lawyers are lining up PE-backed IPOs and big ticket auctions continue for companies like Bridgepoint's Pets at Home.
The Aberdeen bypass is set to be funded via a public-private partnership with a contractor to be selected in 2010-11. But the project may face an uphill political struggle before it starts procurement.