INFRASTRUCTURE (ECONOMICS) – AUSTRALIA

‘More holistic’ leadership will save billions

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 22-Jun-15

Research by consulting firm Agilience has found that the total cost blowout of 44 large infrastructure projects in Australia was around $A6bn. WestConnex Delivery Authority chairman Tony Shepherd says the research demonstrates that more efficient management of large-scale infrastructure projects can result in significant cost savings. He has called for a more holistic approach to leadership of such projects.

CORPORATES
AGILIENCE, NEW SOUTH WALES. WESTCONNEX DELIVERY AUTHORITY, AUSTRALIAN CONSTRUCTORS ASSOCIATION LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BOUYGUES SA, LEND LEASE GROUP LIMITED – ASX LLC, URBANGROWTH NSW

IFM snares US tollroad for $10b

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Original article by Jenny Wiggins, Anthony Macdonald
The Australian Financial Review – Page: 13 & 20 : 13-Mar-15

IFM Investors CEO Brett Himbury has described the Indiana Toll Road in the US as a "fantastic investment" for the group. He is upbeat about the outlook for the US economy, and notes that the 253km toll road’s revenue is likely to remain strong regardless of the strength of the economic recovery. IFM has paid $US7.5bn ($A10bn) for a 66-year lease to operate the toll road, which was placed into bankruptcy in 2014

CORPORATES
IFM INVESTORS PTY LTD, INDIANA TOLL ROAD CONCESSION COMPANY, MACQUARIE GROUP LIMITED – ASX MQG, CINTRA CONCESIONES DE INFRAESTRUCTURAS DE TRANSPORTE SA, GRUPO FERROVIAL SA, TRANSURBAN GROUP LIMITED – ASX TCL, CANADA PENSION PLAN INVESTMENT BOARD, ONTARIO TEACHERS’ PENSION PLAN, ABERTIS INFRAESTRUCTURAS SA, BOREALIS INFRASTRUCTURE MANAGEMENT INCORPORATED, QUEENSLAND MOTORWAYS LIMITED

IFM ready to snap up oil assets

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Original article by Amanda Saunders
The Australian Financial Review – Page: 28 : 5-Mar-15

IFM Investors CEO Brett Himbury has indicated that the group is looking to invest in Australian oil and gas pipeline assets. Potential acquisitions could include the Gladstone LNG pipeline in Queensland and the Australia Pacific LNG pipeline, which may both be put on the market. IFM recently missed out on the sale of BG’s gas pipeline in Queensland, which will be acquired by APA Group

CORPORATES
IFM INVESTORS PTY LTD, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, GLADSTONE LNG PTY LTD, AUSTRALIA PACIFIC LNG LIMITED, BG GROUP PLC, APA GROUP – ASX APA, DUET GROUP – ASX DUE, FREEPORT LNG DEVELOPMENT LP, QIC LIMITED, AMP CAPITAL INVESTORS LIMITED, CHINA INVESTMENT CORPORATION

Spaniards play hardball with Transfield

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 3-Nov-14

The directors of Australian-listed Transfield Services in mid-October 2014 rebuffed an indicative takeover bid worth $A1.95 a share, received from Spanish group Ferrovial. The latter is now refusing to sign a confidentiality agreement put forward by the facility management company, to gain access for due diligence. The suitor argues the terms and conditions are excessively onerous, while Transfield maintains they are standard procedure. The directors will detail the reasons for rejecting the offer at the AGM on 5 November. Ferrovial may yet sweeten the already fairly priced offer

CORPORATES
TRANSFIELD SERVICES LIMITED – ASX TSE, GRUPO FERROVIAL SA, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD, UGL LIMITED – ASX UGL, STEEL INGENIERIA LIMITADA, ENTERPRISE PLC

Abertis slams Transurban approval for Qld toll road

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 25 & 32 : 16-Oct-14

Toll roads operator Transurban in April 2014 paid $A7.05bn to acquire the Queensland Motorways business from state enterprise QIC. It had formed an alliance with AustralianSuper and the Tawreed Investments sovereign wealth fund of Abu Dhabi, and won out over a consortium of Hastings Funds Management and Spanish group Abertis. The latter’s CEO, Francisco Reynes, now says he was surprised that Transurban gained approval from the Australian Competition & Consumer Commission. He also believes the company should focus more on overseas toll road assets

CORPORATES
TRANSURBAN GROUP LIMITED – ASX TCL, QUEENSLAND MOTORWAYS LIMITED, ABERTIS INFRAESTRUCTURAS SA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIANSUPER PTY LTD, TAWREED INVESTMENTS LIMITED, QIC LIMITED, HASTINGS FUNDS MANAGEMENT LIMITED, STANDARD AND POOR’S (AUSTRALIA) PTY LTD