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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Roadside Real Estate Plc | ROAD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 8.75 | 08:00:03 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 8.75 | 8.75 | 8.75 | 8.75 | 8.75 |
| Industry Sector |
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| CONSTRUCTION & MATERIALS |
| Top Posts |
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Posted at 28/2/2011 13:20 by waldron EU Moves Toward Supporting Infrastructure Project Bonds Share this article The European Union took its first step Monday towards launching an initiative aimed at attracting more private financing for infrastructure projects in the 27-nation bloc. The European Commission launched a public consultation Monday for the program, which would see the EU executive share the risk of certain private infrastructure projects with the European Investment Bank. With the EU and EIB taking on part of the risk, companies seeking to raise money in financial markets would be able to issue debt at higher credit ratings. Such project bonds could then attract capital from more cautious investors, such as pension funds and insurance companies. "The main purpose is to really make senior bonds, project bonds attractive for long-term institutional investors," said Philippe Maystadt, president of the European Investment Bank, at a press conference in Brussels. The deadline for the public consultation is May 2, but the program isn't likely to launch until after 2014. In a statement, the commission said contributions would be capped to protect the EU against liabilities, although it wouldn't specify exactly how much the EU budget could be exposed to this program. Also, projects with low or no revenue will continue to need grants. "As part of our comprehensive economic strategy, we need to increase investment in such projects that promote structural change and help put our economies on the path to sustainable growth," said European Commissioner for Economic and Monetary Affairs Olli Rehn. He added that with most national public budgets under stress as a result of the global financial crisis, the EU needed to help fund projects that have a common interest. The EU estimates investment needs of between EUR1.5 trillion to EUR2 trillion for Trans-European Transport Networks, the energy sector, and information and communication technologies. -By Riva Froymovich, Dow Jones Newswires, +32 (0) 2 741 1489; riva.froymovich@dowj |
Posted at 10/12/2005 18:02 by grupo Vinci swoops to conquer in French toll-road sell-offBy : Ross Tieman in Toulouse December 11, 2005 FRENCH construction group Vinci will this week emerge as Europe's largest operator of toll roads, carrying off the plum in a E15bn ($17.5bn, £10bn) auction of French state owned toll-road assets. The company has bid E6bn for 51% of France's biggest toll-road company, Autoroutes du Sud de la France. A successful bid will make Vinci the European leader, with 4,104km of roads under management. It would push it ahead of Italy's Autostrade, controlled by the Benneton family which hitherto enjoyed sector leadership with 3,408km network and a capitalisation of E11.3bn. Vinci already controls France's fourth largest toll-road company Cofiroute. Autostrade is hoping to improve its position through its minority position in a consortium bid, worth E4.8bn, for 72% of French second largest operator Groupe APRR. The Italian group has teamed up with the French state investment bank, Caisse des Dépôts et Consignations (CDC), and insurers AGF, Predica and AXA to bid for APRR, which operates 2,260km running from Paris down to the Rhône Valley and Côte d'Azur. French finance minister Thierry Breton may be tempted to give second prize in his selloff to French construction group Eiffage, builder and operator of the spectacular Millau Viaduct. Eiffage has teamed up with Australia's Macquarie Investment Group to make a rival bid for a controlling stake in APRR, a E6bn company twice its size. Another beneficiary from the sell-off looks to be Abertis Infrastructuras, which operates 1,574km of Spanish toll roads, 68% of the country's network. Controlled by La Caixa bank and construction group ACS, Barcelona-based Abertis is an aggressive consolidator, owning 7% of Autostrade and 10% of Portuguese quoted toll-road group Brisa. Abertis, backed also by the CDC, Predica and AXA, plus Peugeot family holding FFP, has outbid all comers in the auction of Sanef, the state-controlled French road company that takes motorists south and east from Calais, offering E4bn for the 76% stake on offer. Adding Sanef's 1,743km network will almost double the size of Abertis' operations and confirm the global ambitions of a group that runs two shadow toll roads in Britain, the 21km A1-M and 52km A419/417, as well as 433km in Latin America. Thanks to the Continental European toll-road tradition, mainland road operators and construction groups are emerging at the head of a stock market sector that offers pre- dictable revenues, surprising growth prospects through diversification into management of other infrastructure assets and the possibility of more consolidation. Under French rules, winners in the government auction will be obliged to bid for minorities in all three quoted road operators. Investors in Sanef, floated this spring, will see its shares valued more than 30% above the price they paid, and those who bought ASF and APRR shares earlier will also see a tidy profit crystallised. But in practice, each winner is likely to keep the quote. To the embarrassment of the French government, Vinci boss Antoine Zacharias positioned himself to be the sole bidder for ASF by scooping up 23% of its shares in the market after it was floated in 2002. That audacity will now pay off as he extends its European horizons. In addition to controlling Cofiroute, Vinci has 42% of the Dartford crossing operator, as well as owning and operating the two Severn toll bridges between Bristol and Cardiff. The consolidation of transport infrastructure operators will take a leap forward this week, but that won't be the end of it. |
Posted at 09/11/2004 09:20 by grupo guitarlumber French toll-road shares go on saleRoss Tieman, Evening Standard 9 November 2004 THE network of French toll-roads leading to Alpine ski resorts and the Mediterranean coast will go on the block today, as British bank HSBC begins marketing shares in Societe des Autoroutes Paris Rhin-Rhone. The company is raising up to 1.35bn (£940m) through the sale of new shares equal to up to 32.5% of the enlarged capital in an initial public offer valuing the group at 4.15bn. Some 70% to 30% of the shares will be available to international institutional investors through a placing*, though this will be cut back if French retail demand proves strong. The French government is offering up to 36.7m shares at a price in the range of 38 to 43 for institutions*, and 37 to 42 for French retail investors. The cash will be used to pay down the company's debts of 6.79bn and rebuild shareholders' funds of 150m. Its net profits last year were 102m on revenues of 1.47bn, but strong traffic growth and reduced debts should enable rapid increases in earnings. The institutional placing will close on 23 November, with first trading taking place the next day. |
Posted at 18/10/2004 06:59 by maywillow Chicago toll sale leads wayBy Jeremy Grant in Chicago Published: October 18 2004 03:00 | Last updated: October 18 2004 03:00 Chicago has become the first US city to privatise a toll road or bridge in a landmark $1.8bn project involving Spain's Grupo Ferrovial, one of Europe's largest infrastructure groups, and Macquarie Investment Group (MIG), a unit of Australia's Macquarie Bank. The deal, unveiled on Friday, is a sign of the increasing appetite among European toll road operators for projects in the US. "Europe has well-capitalised toll road companies that have become more aggressive about looking for new opportunities around the world," said Mark Florian, a managing director in the municipal merger and acquisition group at Goldman Sachs, which acted as financial adviser. The transaction could also serve as a model for further privatisations in the US, where many budget-strapped cities and states are under pressure to raise cash. It involves a 7.8-mile (12.55km) toll road known as the Chicago Skyway built in 1959 and owned by the city. The road will now be operated under a 99-year contract by a consortium involving Cintra, a toll road operator and construction group jointly owned by Ferrovial and MIG. Cintra is set to be spun off this year. The city of Chicago will receive an immediate payment of $1.82bn, some of which will be used to repay Skyway debt, other city debt and create a "long-term reserve fund" for Chicago. Chicago, the third largest city in the US after New York and Los Angeles, has total outstanding debt of $5.4bn and has projected a budget shortfall of $220m for fiscal 2005. City officials this month delayed finalising the city's budget, saying Chicago's financial situation was the most serious in 15 years. In August, credit rating agency Moody's Investors Service revised its outlook for the city to negative from stable. Richard Daley, Chicago's mayor, said: "I'm sure that some people will be demanding that we use all of the Skyway proceeds to eliminate the shortfall - and maybe even some new spending programmes. I believe it would be fiscally irresponsible to use all of the money at one time." The only other such toll road deal in North America was done in 1999 in Toronto, Canada, also involving Cintra. "Every US governor is going to be looking to see what assets they can now monetise as a result of this [Chicago deal]," said John Schmidt, a lawyer involved in the deal at Mayer, Brown Rose & Mawe. |
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