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Australia’s IFM not rulling out Pacific Hydro sale split – report  

Credit:  By Ivan Shumkov | See News | Jun 9, 2015 | seenews.com ~~

Australian fund manager IFM Investors prefers to sell the entire business of renewable energy unit Pacific Hydro Ltd at once, but will also consider bids for just its Aussie and South American assets, a local newspaper reports.

According to sources cited by The Australian Financial Review (AFR), IFM has encouraged infrastructure funds and sector players to submit offers for the entire business. However, it has not disregarded parties interested in only one of Pacific Hydro’s three divisions.

Pacific Hydro has wind parks in Australia, Chile and Brazil. The assets at home account for just about 30% of the company’s total value, while the plants in Chile are expected to draw the most interest, the newspaper said.

The auction is planned for August 2015. The AFR quoted bankers as saying that the best case scenario would be for IFM to get separate offers from a strategic player and a local retailer for the company’s South American and Australian activities, respectively.

Infrastructure managers Global Infrastructure Partners and Brookfield as well as Chinese and US utilities are said to be considering a transaction.

Source:  By Ivan Shumkov | See News | Jun 9, 2015 | seenews.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

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