AMP Capital sell off UK pipeline

26 July 2012
| By Bela Moore |
image
image
expand image

AMP Capital has made another infrastructure deal as it builds its global infrastructure portfolio.

But this time, the business is dropping a project - selling its share of Wales and West Utilities Limited (WWU) to a group led by Cheung Kong Infrastructure Holdings Limited.

The group has entered into an agreement to acquire WWU - a gas distribution business with approximately 35,000 km of gas distribution across Wales and South West England, subject to approval from the European Commission.

The company's share was held by its European flagship fund - the Strategic Infrastructure Trust of Europe, and the sale sees AMP Capital's total global assets now stand at US$6billion.

AMP Capital head of infrastructure Europe Boe Pahari said selling the company's stake was in the best long-term interest of investors.

"We continue to progress an active deal pipeline within a range of infrastructure sectors, consistent with our goal to further grow our infrastructure investment portfolio," he said.

Earlier this month, AMP Capital was selected to manage a global listed real estate mandate for China's National Council for Social Security Fund and acquired a stake in a portfolio of wind farms through its relationship with the Irish Infrastructure Fund.

In June, the business invested $22 million in Interlink Roads. 

Cheung Kong Infrastructure Holdings has made a number of recent energy acquisitions, purchasing UK Northumbrian Water in October last year and a Canadian power plant facility in February last year.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

11 months ago
Kevin Gorman

Super director remuneration ...

11 months 1 week ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

11 months 1 week ago

Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Co...

1 day 5 hours ago

Demand from institutional investors was the main driver of growth in Australia’s responsible investment (RI) market in 2023, as the industry continued to gain momentum....

1 day 5 hours ago

In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges....

1 day 6 hours ago