Cockfight at ProTen | Catalano steals the show at Keybridge | Dexus infra fund grounded

Good evening,

Forget airports and toll roads – billion-dollar chicken sheds are the next hot asset for infrastructure dealmakers.

Street Talk can reveal that US private capital giant KKR has tabled a non-binding indicative offer to acquire Aware Super’s ProTen, which has been shopped with $70 million EBITDA and $1 billion-plus worth of property and other assets. The business raises 160 million birds a year, or about 24 per cent of Australia’s annual consumption, and has grown rapidly over the past six years.

Sources said KKR managing director Andrew Jennings, last spotted piloting the private capital juggernaut’s joint bid for Queensland Airports Limited, was leading the firm’s tilt at ProTen.

Read the full story here: Cockfight! Roc battles rivals for Aware’s $1 billion-plus chicken farmer

Read the full story tomorrow and more on the Street Talk page.

Listed office landlord turned infrastructure investor Dexus Group has hit a snag at its $2.1 billion Dexus Diversified Infrastructure Trust (DDIT), slapping a six-month freeze on all withdrawals as investors tipped the total withdrawal requests over the $1 billion mark.

Australia’s sharemarket edged lower on Monday as investors weighed the impact of President Donald Trump’s decision to impose 25 per cent tariffs on aluminium and steel imports.

Click here for the latest equity market wrap.