Paris-headquartered concessions player Vinci Group has begun meeting with investment banks for a potential buy-side mandate.
Paris-headquartered concessions player Vinci Group has begun meeting with investment banks for a potential buy-side mandate, as it weighs a tilt at Melbourne’s EastLink motorway., suggesting it is not just kicking tyres at EastLink. Of note, Vinci wouldn’t have a big list of bankers to shop from, given several of them are saddled to Transurban.
Yet, it is seen as a logical bidder, and tapped UBS and RBC Capital Markets for its $3 billion acquisition of Chicago Skyway just last year. IFM Investors and DIF Capital Partners have also been thrown around as parties for whom it would make sense to look at the EastLink stake. Sell-side adviser, RBC, opened the data room on October 16 and is due to call for non-binding indicative offers in late November. Up for grabs is a 55.45 per cent stake in the toll road, which made just over $300 million in EBITDA in the 2023 financial year and had $2.5 billion debt – on a 100 per cent basis.
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