REPORTS

We have demonstrated over the last few newsletters how to employ infraMetrics® data to price up already completed deals. This month we’re looking to try something different: price up a possible transaction. This deal hasn’t happened, and we’re not sure if it will, but this is a demonstration of the value of the data available in the infraMetrics® platform. In...

In June, Arjun Infrastructure Partners acquired a 10% stake in Angel Trains from Public Sector Pension Investment Board (PSP Investments), a Canadian pension fund. Despite this transaction, PSP Investments will continue to hold the majority ownership of Angel Trains, retaining a 64.25% stake in the company. The financial details of the transaction have not been publicly disclosed. Established in 1994,...

Eiffage, a French infrastructure operator, has strengthened its hold on the Millau Viaduct concession by acquiring the remaining 49% stake from Banque des Territoires, thus gaining full ownership. The Millau Viaduct, standing among the most elevated bridges globally, was built to reduce traffic congestion and improve traffic flow between Paris and Barcelona. It provides a direct route between the two...

In April, Fri-El Green Power SpA’s subsidiary, Alerion Clean Power SpA, purchased 51% of Fri-El Anzi Srl, an Italian firm that manages an electric power generation facility in Bolzano. The acquisition was completed for a sum of €18.8M. The company has been operating an onshore windfarm in Anzi, Italy since June 2011. The windfarm consists of eight Vestas V90/2000 turbines...

In March 2023, INPEX Corporation acquired a 16.7 percent stake in the Moray East Offshore Wind Farm, which is currently in operation off the coast of Scotland, with an installed capacity of 950MW produced by one hundred 9.5-megawatt units. Priced at an estimated GBP400m, indicating a total equity value of approximately GBP2.4bn, the acquisition was carried out through INPEX Renewable...

SSE plc has sold a 25% stake in its SSEN Transmission SPV, which operates the energy transmission network in the north of Scotland, to Ontario Teachers’ Pension Plan Board for $1.77bn. The deal was completed in December 2022 and achieved a price-to-sales of 9.16. This is above the 3.1 average for UK network utilities sales (absolute last five-year mean), according...