This Month
IFM Investors’ stake in Atlas Arteria creeps up to 30pc
The infrastructure investor paid $4.96 per share – or a skinny 2.3 per cent premium to the on-market trading price – in a block trade handled by Jarden’s equities desk.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Moody’s downgrades Macquarie’s UK water company to junk
The ratings agency said Southern Water’s poor performance made it especially vulnerable to political, regulatory and financial pressures on the wider sector.
- Hans van Leeuwen
Macquarie makes 50pc gain in $3b British airport sell-off
The asset manager was forced to sell off three UK airports as it winds down a closed-end fund. It joins a slew of recent transactions in the frothy sector.
- Hans van Leeuwen
Gupta owes $684,000 to suppliers in Sydney’s industrial heartland
An Australian business owned by one of India’s richest families is among those chasing payments, while Aurizon extends ban of iron ore transport at Whyalla.
- Simon Evans
‘Maybe we can use Zeppelins’: Australia’s missing infrastructure links
Solar panels and wind turbines crucial to Australia’s energy transition are piling up at a key port because the nation does not have the infrastructure to move them.
- Jenny Wiggins
‘We didn’t set the tolls’: Transurban pitches new pricing plan
Company boss Michelle Jablko says NSW can’t afford to build roads without private money and is looking at charging corridors according to congestion levels.
- Jenny Wiggins
- Opinion
- Chanticleer
Di Pilla’s bolt from the blue snatches biggest IPO of the year
Six months ago, no one saw this float coming. But at $1.65 billion, it is the largest raising for a new Australian company since 2018.
- Anthony Macdonald
- Opinion
- The AFR View
Inflation shadow falls over privatised infrastructure model
The political fallout from privatisation colliding with a temporary cost of living crisis could end up gumming up the pipeline of public works in the longer run.
- The AFR View
Australian Retirement Trust eyes stake in $16b CDC Data Centres
It comes two months after ART sold its 7 per cent stake in AirTrunk into the Blackstone bid, booking a $1 billion exit off a $300 million investment.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Infrastructure Summit
Transurban tolls hit NSW roadblock
Transurban and the NSW government are at loggerheads over how to reduce the long-term costs to taxpayers and motorists from Sydney’s sprawling toll road network.
- Jennifer Hewett
- Opinion
- Chanticleer
How toll road ‘beeps’ became Australian infrastructure’s hottest issue
Politics and business are colliding in Australian infrastructure. Do we really believe in miracle “win-win” scenarios?
- Anthony Macdonald
Road toll fight shows risk of contract changes a reality for investors
The threat of changes by the NSW government to toll-road concessions is a “reality” for asset owners, but it may erode confidence in Australian assets.
- Jonathan Shapiro
Inside David Di Pilla’s plans for a blockbuster $1.6b data centre IPO
Should Di Pilla succeed in raising $1.6 billion for the $2.6 billion float, it would take the crown of 2024’s biggest IPO from Guzman Y Gomez.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Port of Newcastle’s container terminal pitch tempts foreign investors
The world’s biggest coal export hub has been approached by big investors who want to help fund an expansion that is expected to cost well above $2.5 billion.
- Jenny Wiggins
- Opinion
- Chanticleer
Seller’s remorse casts shadow over infrastructure needs
Privatising roads and ports gave state governments plenty of cash to fund new work. But NSW’s struggle with $64 toll roads shows there is a long tail of consequences.
- Anthony Macdonald
From one wheelbarrow and a ute to a $437m ASX listing
Symal Group founder Joe Bartolo started from humble beginnings in 2001 to build his construction group into a large enough player to float on the exchange this year.
- Simon Evans
October
Exec pay at IFM Investors jumps 48pc despite profit fall
The infrastructure powerhouse also recorded broadly flat revenue last financial year, but its key management personnel salary bill still soared.
- Hannah Wootton
Broken Hill pushes for ‘tens of millions’ in compensation
Broken Hill mayor Tom Kennedy says Transgrid could be fined tens of millions of dollars if its emergency back-up systems are found to be flawed.
- Jenny Wiggins and Angela Macdonald-Smith
Sale docs out for Dexus’ stake in Melbourne, Launceston airports
Melbourne airport revenue grew 17 per cent to $1.2 billion in the 2024 financial year, while EBITDA rose 21 per cent to $82.1 million, according to the teaser.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Ontario Teachers mulls selldown at $1b Kiwi mobile towers; eyes on Spark
New Zealand’s largest telco Spark NZ could sell its remaining 17 per cent stake in its passive mobile towers, sources said.
- Sarah Thompson, Kanika Sood and Emma Rapaport