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Article: Canada : Canadians eye infrastructure assets.
- Article from:
- TendersInfo
- Article date:
- October 8, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Babcock and Brown Infrastructure hopes to unveil a long-awaited $1.75 billion recapitalisation deal as early as today after receiving sufficient backing for an institutional placement.
It seems some of the delays associated with the deal stemmed from the fact that Australian institutions were relatively unwilling to assist with the recapitalisation - their US counterparts were more open-minded.
In the end, Credit Suisse and Macquarie Capital have underwritten a $600 million or so institutional placement and $250 million share purchase plan.
Brookfield Asset Management will chip in at least $900 million to emerge as the new cornerstone investor ...