Read More<\/h3>\n\n- Infratil hikes valuation of key asset, raising takeover stakes<\/li>\n
- Infratil chairman hits back at conflict-of-interest claims<\/li>\n<\/ul>\n
IFM, which has around A$148 billion under management, grew out of the infrastructure-focused Development Australia Fund, founded in 1990. Today, it is collectively owned by 27 pension funds including – thickening the plot – AustralianSuper.<\/p>\n
That leads to another possible twist: that IFM could be a partner with AusSuper in a boosted offer, rather than a competitor.<\/p>\n
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Both IFM and AusSuper have large pools of funds that need to find investment opportunities providing low risk and stable returns, The Australian notes.<\/p>\n
Despite raising the prospect, the paper also says that a rival IFM bid for Infratil would be considered somewhat of an aggressive play, given that the pair have worked together on acquisitions in the past.<\/p>\n
AustralianSuper and IFM purchased a 50.4 per cent interest in NSW electricity network Ausgrid for A$16.2in 2016.<\/p>\n
A joint-bid for Infratil would be “logical”, The Australian says, but the complexities of putting such an offer together could take quite some time.<\/p>\n
Infratil’s board cold-shouldered a $5.4 billion takeover offer by AustralianSuper in December, which represented a 28 per cent premium on Infratil’s share price at the time.<\/p>\n
The NZX and ASX-listed infrastructure company has since hiked the valuation of its largest asset – its 48 per cent stake in Canberra Data Centres – from A$1.6b to A$2.33b ($2.5b), although one analyst says it is worth $3.2b based on peers.<\/p>\n
Infratil shares closed Friday at $7.38 on the NZX, for a market cap of $5.33b. The stock has been at or near AusSuper’s takeover offer since it was revealed on November 9.<\/p>\n
Jarden and Infratil have been asked for comment.<\/p>\n
IFM declined comment.<\/p>\n
IFM, which has around A$148 billion under management, grew out of the infrastructure-focused Development Australia Fund, founded in 1990. Today, it is collectively owned by 27 pension funds including – thickening the plot – AustralianSuper.<\/p>\n
That leads to another possible twist: that IFM could be a partner with AusSuper in a boosted offer, rather than a competitor.<\/p>\n
<\/p>\n
Both IFM and AusSuper have large pools of funds that need to find investment opportunities providing low risk and stable returns, The Australian notes.<\/p>\n
Despite raising the prospect, the paper also says that a rival IFM bid for Infratil would be considered somewhat of an aggressive play, given that the pair have worked together on acquisitions in the past.<\/p>\n
AustralianSuper and IFM purchased a 50.4 per cent interest in NSW electricity network Ausgrid for A$16.2in 2016.<\/p>\n
A joint-bid for Infratil would be “logical”, The Australian says, but the complexities of putting such an offer together could take quite some time.<\/p>\n
Infratil’s board cold-shouldered a $5.4 billion takeover offer by AustralianSuper in December, which represented a 28 per cent premium on Infratil’s share price at the time.<\/p>\n
The NZX and ASX-listed infrastructure company has since hiked the valuation of its largest asset – its 48 per cent stake in Canberra Data Centres – from A$1.6b to A$2.33b ($2.5b), although one analyst says it is worth $3.2b based on peers.<\/p>\n
Infratil shares closed Friday at $7.38 on the NZX, for a market cap of $5.33b. The stock has been at or near AusSuper’s takeover offer since it was revealed on November 9.<\/p>\n
Jarden and Infratil have been asked for comment.<\/p>\n
IFM declined comment.<\/p>\n