Prices and Markets

Premier Global Infrastructure Trust - Evolution, not revolution Premier Global Infrastructure Trust (PGIT), formerly Premier Energy & Water, has announced a change of investment emphasis within its portfolio. PGIT’s investment objectives remain unchanged (high income and long-term capital growth - see below) but fuller use is now being made of the existing authority to invest in non-utility infrastructure – areas such as ports and roads. A more concentrated portfolio is also to be revised into three distinct areas: income equities, growth...

Hg gets bid for Ullink - Hg, the Manager of HgCapital Trust plc, has announced that it has received a definitive binding offer from Itiviti, a company backed by Nordic Capital, to acquire Ullink, a leading global provider of electronic trading and connectivity solutions to the financial community. This proposed sale is subject to French workers' council consultations, and customary approvals, such as regulatory clearances. The terms of the transaction were not disclosed. Hg Capital would realise estimated cash proceeds of...

International Public Partnership consortium preferred bidder for OFTO project - International Public Partnerships Limited says that it is pleased that Transmission Capital Partners, the consortium comprising INPP, Amber Infrastructure and Transmission Investment has been appointed as preferred bidder for the long-term license and operation of a further offshore transmission project (OFTO). The latest scheme, comprising the transmission cable connection to Dudgeon Offshore Wind Farm represents the seventh such project that Transmission Capital Partners has been appointed to, as preferred bidder....

Residential Secure Income buys 1341 retirement homes - Residential Secure Income plc has announced the completion of its first acquisition with the purchase of a rental homes portfolio comprising 1,341 retirement properties for a total consideration of approximately £100m. The UK-wide portfolio is concentrated in Southern England and comprises long-leasehold or freehold interests in primarily one and two bedroom modern, warden-assisted flats spread over more than 250 purpose-built retirement housing blocks. The portfolio provides RPI-linked assured tenancies to retirement-aged residents, offering...

Aberdeen Standard European Logistics Income (ASLI or the company) is a new company that intends to qualify as an investment trust. It will invest in a diversified portfolio of ‘big box’ logistics and ‘last mile’ urban warehouse assets in Europe (this includes both the UK and the Nordic countries - see page 3 for more detail on the investment proposition) with the aim of providing its shareholders with a regular and attractive level of income return together with the potential...

Hammerson sells Places des Halles in Strasbourg - Hammerson has exchanged contracts for the sale of its share (64.5%) of Place des Halles shopping centre in Strasbourg, France. LaSalle Investment Management will purchase the centre from Hammerson and its co-owner, on behalf of funds under management, for a total net vendor price (100%) of EUR 291 million (GBP258 million), slightly above 30 June 2017 book value. Centrally located in Strasbourg, Place des Halles is a prime regional shopping centre totalling...

The price of energy is a topic which has caused great controversy in the UK in recent years. Many believe it to be overpriced, and with utilities serving as one of the main overheads for UK businesses, it is safe to assume that they are paying a fortune for their electricity. With so many different energy sources, including imported energy, nuclear, renewables and fossil fuels such as coal and gas, the cost of energy can differ depending on its source....

Standard Life Property Income buys Bracknell office - Standard Life Investments Property Income Trust has completed the purchase of a multi let office, 1 Station Square, in Bracknell for GBP12m, reflecting a yield of 6.9% on the topped up rent. The office has had a substantial refurbishment, and is located adjacent to Bracknell train station, and very close to the newly opened town centre retail scheme. The building also benefits from an excellent car parking ratio. The top floor is vacant,...

Central Asia Metals (CAML) has transformed itself from a single-asset copper producer to a significantly larger base-metal producer. The acquisition appears to have added a lot of value to the company and has added another low-cost base metal operation. QuotedData’s model suggests that this could allow CAML to almost double its earnings per share (EPS), which in turn could allow it to maintain its dividend flow and yield. The company completed the US$402.5m acquisition of the Sasa lead and zinc...