Macquarie to invest in Incheon bridge

The Australian investment bank takes a 41% stake in the Incheon Grand Bridge project in a deal made possible only under support from the Korean government.

With its appetite for both Korea and infrastructure raging away, Macquarie Bank yesterday Thursday announced that it was investing in the Incheon Grand Bridge project to build the longest bridge in Korea and the fifth largest in the world. The investment will be the bank's largest in Korea and comes a month and a half after it announced it was investing $150 million buying into CJ CableNet, a Korean broadcasting company, and buying Korea Independent Energy, an LNG power generator.

This latest deal will see Macquarie buy a 41% stake in the existing project company called Korea Development Company Koda for a total consideration of Wn67.5 billion $64 million....

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