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related
Profiles
& Notes:

telecoms
bubble

Aust & NZ
telecoms

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     infrastructure

This page provides some infrastructure benchmarks - roads, airports and docks - for acquisitions and disposals during recent telecommunication booms/busts and the dotcom bubble.

It covers -

• roads
• airports
• ports

     roads

Roads and other infrastructure sales include -

• Transurban Group agrees to buy Virginia's Pocahontas Parkway for US$611m in 2006
• Abertis Infraestructuras agrees to buy Autostrade of Italy for US$14.8bn in 2006
• Macquarie Infrastructure Group and Cintra pay US$3.85bn for Indiana Toll Road concession in 2006
• French government sells 50.3% of Autoroutes du Sud de la France to Vinci for €6bn in 2005
• French government sells 70.3% of Autoroutes Paris-Rhin-Rhône (APRR) to Eiffage and Macquarie European Infrastructure Fund for €4.8bn in 2005
• Macquarie buys controlling stake in Dulles Greenway turnpike (US) for US$533m in 2005
• French government sells 75.7% stake in Société des Autoroutes du Nord et de l'Est de la France (Sanef) to consortium of Abertis Infraestructuras, Caisse des Dépôts et Consignations, CNP Assurance, Predica and Peugeot family for €4bn in 2005
• Transurban Group pays $1.8bn for Hills Motorway Group in 2005
• Macquarie Bank acquires Chicago's Skyway toll road for US$1.8bn in 2004

     airports

Airport landmarks include -

• American International Group consortium buys London City Airport from Dermot Desmond for £750m in 2007
• Macquarie buys Grupo Ferrovial's 21% stake in Sydney airport for €552m in 2007
• Ferrovial agreed to sell 75% stake in Budapest airport to by Hochtief consortium for €1.9bn in 2007
• BAA agrees to US$20.5bn takeover by Grupo Ferrovial in 2006
• BAA pays £1.26bn for 75% stake in Hungary's main airport in 2006
• Abertis Infraestructuras pays £550m for TBI (inc Luton, Cardiff and Belfast airports) in 2005
• Macquarie Bank consortium acquires 70% of Brussels International Airport Company for €735m in 2004
• Macquarie consortium acquires Sydney Airport for $5.6bn in 2002
• Macquarie and Cintra Concesiones de Infraestructuras de Transporte acquire Bristol International Airport for £198m in 2001
• Adelaide and Parafield airports sold for $362m in 1998
• Canberra and Coolangatta airports sold for $171m in 1998
• Darwin, Alice Springs, Tennant Creek airports sold for $110m in 1998

     ports

• DP World buys ferry and port operator Peninsular & Oriental Steam Navigation (P&O) for £3.88bn in 2006
• Endeavour Ports consortium agrees to buy PD Ports (UK) for £246m in 2005
• PSA pays reported US$640m for minority stake in a terminal in Tianjin in 2005
• PSA pays US$925m for a share of Hong Kong operations of Hutchison Port Holdings in 2005
• DP World buys port operations of CSX World Terminals for US$1.15bn in 2005
• Peel Ports acquires Mersey Docks (UK) for £771m in 2005

For consolidation in the docks sector see Liner Shipping Companies and Terminal Operators: Internationalisation or Globalisation? by De Souza, Beresford & Pettit and Marc Levinson's The Box (Princeton: Princeton Uni Press 2006).

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