The French developer has teamed with French construction firm FAYAT to sign a 30-year public-private partnership contract for the design, finance, construction, operation and maintenance of the new Bordeaux Stadium.
The European investment firm is now Bilfinger Berger’s largest shareholder and ‘does not exclude increasing its stake’ further in the German firm, although it said it will not seek to take it over. Cevian’s stake is valued at just over €370m at current share prices.
Bouygues and Vinci, two of France’s biggest developers, have submitted final offers for a €1.6bn stretch of high-speed rail connecting Nimes and Montpellier. Eiffage declined to put in a final bid for the project, due to be awarded at the beginning of next year.
The HSBC spinout has managed to raise an extra $200m from investors to close what it is calling ‘the largest fund ever raised that focuses solely on greenfield infrastructure’. The vehicle has already committed more than $400m to a raft of projects.
The listed fund has raised just about £131m via a new share offer, increasing the fund's size to £428m. The proceeds will be used to buy nine operational PPP projects from John Laing, increase a stake in an existing project, and reduce the fund’s debt.
The Dutch and Canadian pensions are investing through 'a convertible instrument maturing in five years' which will give them a stake in the developer. They also have the option to increase their investment to up to €750m.
The Dutch infrastructure fund manager is to acquire 80 percent of a portfolio of public-private partnership interests from Dutch infrastructure services provider Strukton. A unit of Strukton will remain responsible for the day-to-day management of the assets.
Some Spanish regions – like Castilla-La Mancha and Catalonia – have started to fall behind on their contractual payments to concessionaires.
Netherlands-headquartered infrastructure investor DIF is providing equity for the Noord Zuid Kempen availability-based project in Belgium, which features a 2.5-year construction phase and 30-year operational period. Bank finance has been committed by KBC, ING and SMBC.
Castilla-La Mancha is nine months behind its agreed shadow toll payments for a road concession awarded to an ACS subsidiary. Moody’s says there is ‘growing evidence that Castilla-La Mancha is prioritising core expenditures ahead of its payment obligations’ to the concessionaire.
A new bridge across the river Mersey – widely seen as one of the last big contracts remaining in the UK PFI pipeline – has been tendered. Potential bidders should submit their expressions of interest for the 30-year contract by December 14.
Strong demand has seen the Toronto asset manager raise an extra $60m in its recently announced public offering. Proceeds from the offer will be used to finance new Chilean acquisitions and its Australian portfolio. Brookfield will continue to hold 30% of its infrastructure unit.
Groupe BCE, France’s second-largest banking group, has launched FIDEPPP2 ‘to help finance the French economy’ via public-private partnerships. The fund will be subscribed exclusively by Groupe BCE subsidiaries including Natixis, which will also manage the new vehicle.
Eduard Ruijs, a former partner at the NIBC European Infrastructure Fund, has joined the London office of energy specialist First Reserve as a director. The move is part of a double hire, which sees ex Macquarie executive Ed Fidler join alongside Ruijs.
Teachers Insurance and Annuity Association of America has bought a 50% stake in the road concession from ACS. Florida’s I-595 was the first infrastructure deal in the US backed by availability payments and will be in private hands until 2044.