Spriha Srivastava
Asset management firm Franklin Templeton’s real estate arm has established a newly dedicated business team to analyse, select and invest in real asset fund opportunities. Sources suggest that the company is planning to launch a real assets fund of funds that will invest in infrastructure as well as other real assets globally.
Indian firm GMR is looking at the possible sale of its 50 percent share in InterGen, the US power generation company. GMR is exploring options with a limited number of potential buyers for the asset, which is valued at around $1.1bn.
Reserve Bank of India (RBI), the country’s central bank, has decided to permit take-out financing via external commercial borrowings (ECB), thus relaxing norms for infrastructure companies. Companies involved in the seaport, airport, road and power sectors will be eligible to take advantage.
New Zealanders are a step closer to their first public-private partnerships in the school sector, after the government approved a proposal to involve private investment. Projects will see the financing, building and maintenance of schools by the private sector.
Indian infrastructure developer Adani Enterprises has raised $850m in a share sale to institutional investors. Reports say the money will be invested in the company’s coal mining and oil and gas exploration businesses.
Reliance Infrastructure, the Indian infrastructure firm, has signed an agreement with the National Highways Authority of India (NHAI) for developing a road project worth INR30bn. The project involves the six-laning of the 180km highway that connects Delhi to Agra in the north of India.
The Asian Development Bank (ADB) is providing a loan of $300m to Georgia to help improve its urban infrastructure facilities. The loan will help fund part of the government’s urban investment programme, earmarked at $1.1bn between now and 2020.
Developer Bilfinger Berger has reached financial close on a public-private partnership project in the Canadian healthcare sector. The total value of the project is estimated at €340m with a concession period of 30 years.
Italian toll-road operators Atlantia and SIAS have said they plan to merge their jointly-held Chilean operations, in which Italian bank Mediobanca will also have a stake. The companies said they plan to list their new vehicle in the near future.
Dutch Infrastructure Fund (DIF) has acquired a tranche of a solar project in France from EDF Energies Nouvelles, a French renewable energy corporation. The Gabardan solar photovoltaic project will be the largest photovoltaic plant in Europe.