Tonight, we’ve found a pair of deals at one of the country’s biggest investment houses, IFM Investors.
The group’s flagship infrastructure team is running the numbers on NSW’s 49 per cent stake in motorways group WestConnex, widely tipped to be worth about $10 billion. IFM is the only bidder in an auction and is preparing to take on Transurban Group, which also has the right to make an offer.
However, we can reveal IFM is not working alone. It has Dutch pension giant APG in its corner, helping to bankroll the mooted bid, which is due before the state in August.
Also at IFM Investors, we have a new IPO contender out of its private equity unit. It’s a telehealth business, Genie Solutions, which offers practice management software to Australia’s medical specialists. IFM and Genie have called in stockbrokers to prepare the latter for the ASX boards in the second half of the year.
Finally, Goldman Sachs’ consumer team has nabbed a sweet mandate involving bankers on both sides of the Tasman.
Happy reading,
Sarah Thompson, Anthony Macdonald and Tim Boyd Street Talk Editors
