abn-amro-seeds-second-infrastructure-trust

ABN AMRO seeds second infrastructure trust

The bank buys a 14.9% stake in SydneyÆs newly opened Lane Cove Tunnel from Cheung Kong Infrastructure, with the view to launching a new trust at the end of the year.
ABN AMRO Australia has acquired a stake in Connector Motorways Group which operates the new Lane Cove Tunnel and Falcon Street Gateway tollways and is partly owned by Cheung Kong Infrastructure CKI.

The bank plans to inject the asset into a newly created infrastructure trust that will be offered to institutional investors later this year.

The amount paid for the 14.9% stake was not disclosed, though the tunnel and road project cost around $1.1 billion to build and CKI paid $239 million for its 40% share of the tunnel in 2004.

ABN AMRO has acquired the stake directly from CKI as the Hong Kong developer backed by Li Ka-Shing looks to offload about half...
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