FCC has announced that it has formally completed the sale of a 49% stake in its Aqualia subsidiary to Australian fund IFM Investors for EUR1.024 billion (US$1.187 billion). This comes after the European Commission (EC) and the Federal Economic Competition Commission of Mexico approved the sale on 22 August and 20 September, respectively.
Infrastructure/PPP news in Europe
MegaProject 1339: Carillion collapse sees second multi-million pound hospital PPP terminated in the UK
The Royal Liverpool and Broadgreen University Hospitals National Health Service (NHS) Trust has announced that its Board of Directors has decided to terminate the PPP contract to construct and maintain a new hospital in its service area.
GMR Group has announced that the Government of Greece has issued Letter of Award to a consortium of GMR Airports Limited, a subsidiary of GMR Infrastructure Ltd, and TERNA Group for the development, operations and management of a new international airport of Heraklion at Crete.
McBains Hellas has been appointed to act as technical advisors for a developmental Public-Private Partnership (PPP) project for building a new research centre for the Biomedical Research Foundation of the Academy of Athens (BRFAA) that will provide personalised medical services.
BaltCap has announced that the BaltCap Infrastructure Fund (BInF) will finance a project for a new school and preschool in the Kalnėnai neighbourhood of Vilnius. This will be only the second new school built in the Lithuanian capital since the restoration of independence in 1990.
The President of Normandy, a region in the north-west of France, has alleged that the national government's Minister of Transport has confirmed that a contested bypass planned to the east of Rouen, capital of the region, will be developed through a concession.
Astaldi S.p.A. has announced that it has signed the closing on the sale of its 59.4% stake in Veneta Sanitaria Finanza di Progetto S.p.A., the concessionaire of Ospedale dell’Angelo in Venice-Mestre, Italy (also known as the New Hospital in Mestre). The transaction amount is in line with the expected book value of the asset: EUR50 million (US$58.8 million).
The Board of Directors of the Hellenic Republic Asset Development Fund (HRADF) has approved a new offer for the 20-year extension of the concession agreement of Athens International Airport. The offer was submitted by Athens International Airport SA (AIA) and provides for a total price of EUR1.3826 billion (US$1.6 billion), including VAT.
KKR has announced the final closing of KKR Global Infrastructure Investors III, a US$7.4 billion fund focused on pursuing global infrastructure investment opportunities with an emphasis on investments in OECD countries. KKR will be investing US$358 million in capital alongside external investors through KKR’s balance sheet and employee commitments.
A.P. Moller Capital has announced that it has raised US$982 million for the Africa Infrastructure Fund.
Sandwell and West Birmingham Hospitals (SWBH) National Health Service (NHS) Trust has recommended that the Midland Metropolitan hospital, located in Smethwick, in the West Midlands region of England, be completed using public funds. The local health authority awarded a 30-year contract for the design, construction, financing and maintenance of the hospital to Carillion in August 2015.
The Welsh government has launched the tender for the A465 Heads of the Valleys dualling project. As well as the substantial investment required - GBP500 million (US$656.5 million) - this is noteworthy as the government is using a new PPP model to structure the project, the Mutual Investment Model (MIM).
The City of Marseille has published a concession notice for the development and operation of the conference and exhibition centre in the city. The 30-year concession has an estimated total value of EUR1.2 billion (US$1.4 billion).
Haringey Council has voted to scrap the Haringey Development Vehicle (HDV), a public-private partnership, in development since 2015, that entailed the construction of 6,400 homes and represented over GBP2 billion (US$2.6 billion) investment. Haringey is a borough of London, located in the north of the city.
The Government of Romania will launch 13 public–private partnership (PPP) projects, including healthcare research centres, hospitals and an airport south of Bucharest with a capacity of 30 million passengers.
The Public Administration and Constitutional Affairs Committee of the UK Parliament has recommended that the Treasury and the Government should not approve any further Private Finance Initiative (PFI) projects.
Altitude Infrastructure has signed a 25-year concession agreement and closed a debt financing package for the deployment and maintenance of an ultra-high-speed broadband network in Haute-Garonne, a department in the south of France. The estimated total project investment is EUR516 million (US$606.8 million).
Ancala Partners has achieved a first close of Ancala Infrastructure Fund II at EUR133 million (US$156.4 million). The core infrastructure fund is targeting commitments totalling EUR600 million (US$705.5 million), with further closes expected this year.
The European Investment Bank (EIB) and the European Commission, together with French, German and Italian banks Caisse des Dépôts, KfW and Cassa depositi e prestiti, have committed EUR420 million (US$493.2 million) to the Connecting Europe Broadband Fund, which will finance broadband network infrastructure across underserved areas in Europe.
Macquarie Infrastructure and Real Assets (MIRA) has announced the final close of Macquarie Super Core Infrastructure Fund (MSCIF) Series 1 at EUR2.5 billion (US$2.94 million), exceeding the fund's initial minimum target of EUR1.5 billion (US$1.76 million).