Bruno Alves
UK-listed 3i Infrastructure said today it has acquired a 49.9 percent stake in Elgin Infrastructure, which holds a portfolio of 16 educational and healthcare PFI projects across Scotland and northeast England. The fund paid £39m for the stake, sold by Robertson Capital Projects.
The German multiservice group said earlier this week that it plans to go ahead with an IPO of its Australian business – which includes construction units Abigroup and Baulderstone. Bilfinger Berger hopes to list its Australian subsidiary during the first half of this year, in a deal that could net the company up to A$1.5bn.
The Portuguese government has approved the concession base for the forthcoming tender of Lisbon’s new €5bn airport. The 40-year concession intends to privatise airports operator ANA and require the private sector to design, build, finance and maintain the new airport.
The Canadian construction and engineering group has formed a joint venture with Russian development bank Vnesheconombank. SNC Lavalin will provide technical assistance and budget audits on infrastructure projects being financed by the development bank.
Hadrian’s Wall Capital is set to make an announcement regarding its planned infrastructure debt fund soon. In a recent statement, the vehicle is described as a provider of subordinated debt within senior-ranking infrastructure bonds.
CP Eaton Partners says LPs are adopting a “wait and see” attitude towards infrastructure investments in the US. The placement agent cites political and financial obstacles as the chief reason for this and thinks the energy sector has the most potential for upside.
Morgan Stanley Infrastructure has teamed with Egyptian construction firm Orascom to raise what could be a multibillion investment vehicle.
The €200bn pension plans to channel an extra €2bn for infrastructure investments over the next three years. Infrastructure funds are likely to benefit since ABP has no plans to invest directly.
Two French concessionaires, Abertis-owned Sanef and Vinci, have signed an agreement with the French government to spend €1bn making their roads network more environment-friendly. In exchange, the government will extend their concessions for an extra year.
The government has been in talks with key industry figures on creating conditions for pension funds to become cornerstone investors in infrastructure. Mervyn Davies, the trade and investment minister, said the government could cover construction risk to attract pensions.