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Announced

Amber Infrastructure-backed INPP to acquire five New Zealand infrastructure assets from Morrison for $128m.

Financials

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Transaction Value£105m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

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Majority

Cross Border

Acquisition

Private Equity

school

Public Private Partnerships

Single Bidder

prison

infrastructure asset

Pending

Private

student accommodation

New Zealand

Synopsis

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Amber Infrastructure-backed International Public Partnerships, a specialist infrastructure investment company, agreed to acquire five New Zealand infrastructure assets from Morrison, a specialist alternative asset manager focusing primarily on infrastructure, private equity and property investment with offices, for $128m. The five assets are all located in New Zealand and include three schools projects, the Auckland Prison and a purpose-built student accommodation facility. "We have entered the New Zealand market with a portfolio of high-quality assets primarily within the education sector. The five new investments further enhance INPP's growing Australasian presence, which will represent approximately 11% by investment fair value, of our international portfolio and provides us with a strong platform for growth. New Zealand is a mature infrastructure market, complementing our proven track record over the past decade in Australia," Mike Gerrard, INPP Chairman.

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