Citadel Capital-backed gas distributor TAQA Arabia won a $165m contract in Libya to build a gas distribution network linking the country’s three major cities. In Algeria, Japan’s JGC and a joint venture between Swiss engineering firm ABB and Algerian oil and gas construction firm Sarpi won contracts totalling $1.6bn for gas gathering, metering and pipeline facilities.
The German government has rejected a request from Arcandor for €650 million of assistance from the national rescue fund, which would have helped keep the owner of store group Karstadt afloat. RREEF teamed up with Italy’s Pirelli Real Estate, Generali and the Borletti Group last year to buy a 49 percent stake in Arcandor’s Karstadt real estate portfolio of 164 stores. Goldman Sachs owns the other 51 percent.
As the muted market for IPOs shows some tentative signs of life, buyout house KKR has unveiled an agreement with Fidelity to open up new retail distribution possibilities.
A debate is dividing the infrastructure community as to whether the $2.5bn Midway Airport deal fell apart because of bad timing or poor decision-making. Cezary Podkul weighs up the arguments.
Why organisers of the 2012 Olympics will be celebrating as the London motorway upgrade secures finance
Shareholders of the troubled German lender yesterday approved a government plan to nationalise the bank; JC Flowers has said it may take legal action to safeguard its investment.
The deals of tomorrow will have a retro feel, writes Toby Mitchenall.
Bernard Sheahan is the man behind the IFC’s new Infrastructure Crisis Facility: a $10bn pot of money that could lend to your project or invest in your next infrastructure fund. Cezary Podkul asked him about his vision for the facility, how investors can get access to it, and why it is of such critical importance at the current time
Pennsylvania said the recession and credit crisis upended the bidding process, which will resume when financial market conditions improve. In the meanwhile, $25m of commonwealth funds will be used to make the project more attractive to the private sector.
Financing infrastructure is of critical importance if the world is recover at least some of its former economic momentum.