The go-slow that’s been impacting on Australian deals all year is affecting a handful of big infrastructure auctions, with once-tight timetables blowing out as sellers struggle to lock in their suitors.
The big ones dragging on include CWP Renewables, where owner Partners Group collected binding bids last week, chemicals business Ixom (which attracted infrastructure investors) and Vector Metering, whose bid date has been delayed.
Bankers reckon funding markets are at the root of the delays, with bidders struggling to lock in their banks in light of financial market conditions and wider economic uncertainty.
In Street Talk tonight, we’ve spotted Gina Rinehart’s Hancock Prospecting making waves on a few fronts.
Credit Suisse is lending its name and balance sheet to six-year-old non-bank lender Pallas Capital as it eyes a slice of New Zealand’s commercial real estate debt market.
Mid-market private equity firm Redwood North has acquired West Australian playground equipment business Forpark Australia, in its third deal in the sector.
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