AMP Capital is believed to have lost another mandate on the back of reports about its internal cultural issues in the wake of the Boe Pahari scandal.
Sources say T Corp has taken control of its investments in the Flinders Port Holdings and the Peninsula Link freeway in-house, having previously outsourced this to AMP Capital.
It is the first infrastructure mandate loss for AMP and industry sources said it was a blow for the business.
Elsewhere, bankers on SG Lottery’s local float are closely watching what happens with the sale process of parent company Scientific Games.
UBS is in the box seat for SiteMinder’s upcoming float, which is slated for this year.
AMP Capital has lost its first Australian infrastructure mandate in years, with NSW’s TCorp taking full control of its investments in a South Australian port owner and a Melbourne tollroad.
As SG Lottery’s bankers and lawyers rustle up a prospectus for the company’s potential $10 billion-odd float on the ASX, one thing that has them looking over their shoulders is the company’s auction.
The Geelong Textile Group, which supplied the material for the Australian Test Cricket teams’ baggy green caps, is up for sale for the first time in 40 years.
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