This Month
Construction player Symal books IPO roadshow for $500m float
Fund managers have been told to expect pre-marketing research to land in their inboxes overnight.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Why $31 billion will not be enough to build Inland Rail
Australia’s grand plan to transport goods by rail from Melbourne to Brisbane in less than 24 hours is cutting corners to stay on track, say residents of one city on the route.
- Jenny Wiggins
NZ to speed up approval for 149 projects amid downturn
New Zealand’s government will include 149 projects in a fast-track approvals bill – predominantly in housing, infrastructure, resources and agriculture – to revive a slowing economy.
- Paul-Alain Hunt
Aurizon investors impatient for Top End contracts
Aurizon is in “regular” talks with potential customers for its ambitious land bridge scheme, but scepticism abounds over whether it can pull the bold plan off.
- Jenny Wiggins
Mystery investor revealed in Macquarie, Aware’s $6b tilt for TPG fibre
Should the deal proceed as expected, UniSuper stands to emerge as an indirect minority owner of Vocus, taken private by MAM and Aware for $3.5 billion in 2021.
- Sarah Thompson, Kanika Sood and Emma Rapaport
September
PFAS foam leaks on Transurban’s Brisbane toll road rankle council
Transurban’s maintenance practices are being reviewed by Brisbane’s city council after fire-fighting foam spilled from a tank into a pump station in the company’s Clem Jones Tunnel.
- Jenny Wiggins
Airport valuations take flight as Queensland, Perth airport sales sign
Perth Airport’s holding value was 18-times earnings, while UTA sold at 20-times to – depending on who you ask – 22-times.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Skip, KKR set to revive infra M&A with $3b Queensland Airports deal
The Queensland Airports acquisition signals a re-rating of unlisted infrastructure portfolios, starting with airports, industry insiders told Street Talk.
- Sarah Thompson, Kanika Sood and Emma Rapaport
BlueScope sounded out as Whyalla steelworks rescuer
Sanjeev Gupta’s empire is showing further signs of distress as creditor defaults tick up against his other businesses in Australia, InfraBuild and Tahmoor coal.
- Simon Evans and Elouise Fowler
Qube sues own employees for damages for blocking ship services
A wage dispute between logistics group Qube and wharfies in Melbourne has escalated after the company sued more than 20 union members.
- Jenny Wiggins and David Marin-Guzman
Three-horse race at Queensland Airports; Dexus snags a wingman
Dexus has survived the loss of a bid partner while KKR’s dealmakers seem to have overcome last-minute doubts about lobbing a binding bid.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Fletcher warns of construction slump as it pursues $641m raising
The building materials giant says it expects volumes to slide by as much as 15 per cent this financial year, and the Auckland-based company will cut more costs.
- Simon Evans
Family offices pave way for Oliver Curtis’ redemption
Venture capital funding, you see, is for plebs without family wealth.
- Myriam Robin
Pacific National takes hefty write-down on NSW coal business
The rail freight group has written off $424 million and blamed lower container freight volumes, bad weather and smaller harvests for deepening the annual loss of its parent.
- Jenny Wiggins
Book covered for Auckland Airport’s $1.3bn raise
Street Talk understands investment banks Jarden and Macquarie had their books covered just before market open in Australia.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Canberra Data Centres in partner search with $16b enterprise valuation
That punchy valuation has been signed off by the board, along with the required financial modelling, due diligence materials and an information memorandum.
- Sarah Thompson, Kanika Sood and Emma Rapaport
The Sydney-born astronaut who learnt Russian in eight weeks
Katherine Bennell-Pegg is the first person to train and qualify as an international astronaut under the Australian flag. She’s doing it all for her late mum.
- Simon Evans
Morrison & Co mulls selling Perth Airport stake; TIF, ART tipped to join
Of note, Morrison & Co’s decision to sell could set off a domino effect on Perth Airport’s register.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Clare O’Neil in housing policy hall of mirrors
Labor wholeheartedly adopted the First Home Buyer Guarantee Scheme upon winning office. And would go on to announce it many, many times.
- Myriam Robin
UBS, Morgan Stanley on the ticket for NextDC’s $550m placement
Funds will be raised for the data centre operator at a fixed price of $17.15 per share, representing a 3.9 per cent discount to the last close.
- Sarah Thompson, Kanika Sood and Emma Rapaport
