Argo Infrastructure Partners completed the acquisition of MIC Hawaii from Macquarie Infrastructure for $514m.

Argo Infrastructure Partners, an independent fund manager, completed the acquisition of Macquarie Infrastructure Hawaii from Macquarie Infrastructure, which operates and invests in a portfolio of infrastructure and infrastructure-like businesses in the US, for $514m. “While Covid-19 lengthened the timeframe to complete these efforts, we are now transferring our businesses to private owners who recognize their improved resilience and growth potential. Subject to the successful closing of our two agreed transactions, we have delivered on our commitments and will return net proceeds to shareholders of $52.18 per share, representing a 35% premium to our share price prior to embarking on our pursuit of strategic alternatives,” Christopher Frost, MIC CEO.