Spriha Srivastava
Private equity firm KKR has bought a 9% stake in Avantha Power & Infrastructure, an Indian power company, for $49m. The acquisition comes ahead of a share sale planned by the power company to raise $280m.
The UK-listed infrastructure investor has acquired stakes in two UK PFI contracts and in two Canadian PPP projects from subsidiaries of Bilfinger Berger for £65.9m. The acquisition takes the number of infrastructure investments made by the fund to 38.
The renewable energy developer and adviser has acquired a 10% stake in SEM Renouvelables, a state-owned company in France. The deal also includes part-ownership of a 12-megawatt wind farm in central France.
The UK airports operator has issued a new bond worth €500m with a 2016 maturity and a coupon of 4.12%. The company plans to use the proceeds to refinance existing debt.
State-owned India Infrastructure Finance Company will be launching a takeout finance scheme for infrastructure projects on October 12. Under this scheme, IIFCL will buy out 50% of commercial banks loans in order to increase bank capacity for infrastructure lending.
European waste management firm Shanks Group has sold equity stakes in two of its long-term PFI contracts to John Laing, the UK developer, for a total of £25m.
Indian developer GMR Infrastructure is in talks with an Indian bank for a $360m loan to fund a recently awarded airport project in Maldives. The loan from Axis Bank for a period of 12 years is expected to be signed by the end of the month.
Lend Lease Corporation, an Australian investment company, through its subsidiary, Actus Lend Lease, has been awarded the second phase of the Army Lodging Program to privatise 11 US Army installation hotels. The total investment volume of the second phase is $350m and financial close is expected in the second half of 2011.
HSBC Infrastructure Company, a UK-listed infrastructure investor has increased its stake in a Sussex custodial centre project by acquiring an additional 7.55 percent equity interest and 17.65 percent loan note interest. This takes the total number of incremental acquisitions made by the company to 16.
The private equity firm has, through its specialist South Asia Fund, invested a total of $8m in Auro Mira Energy Company.