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Global Infrastructure Partners News

26 Jul 2022

Rolls-Royce Names Erginbilgic CEO

Tufan Erginbilgic (Photo: Rolls-Royce)

Rolls-Royce named former BP executive Tufan Erginbilgic as its new chief executive to replace outgoing boss Warren East, a move analysts say will help drive profits at the British engine maker.East, whose seven years at Rolls were marked by costly troubles with the blades on its engines and the COVID-19 pandemic, will step down at the end of this year, with Erginbilgic taking over on Jan.

03 May 2019

MSC Hikes Stake in Terminal Investment

MSC Mediterranean Shipping Company, the world's second-largest shipping line in terms of container vessel capacity, SA announced that it is increasing its majority stake in the container terminal operator Terminal Investment Ltd (TiL) to 60%, following a deal with Global Infrastructure Partners (GIP) and other co-investors.MSC also welcomes a new partner to the shareholding of TiL after Global Investment Corporation (GIP), a Singaporean Sovereign Wealth Fund, acquired a 10% stake in TiL from GIP and other existing co-investors.New York-based GIP, a leading global, independent infrastructure fund manager, remains a significant shareholder.TiL…

17 Feb 2019

World’s Largest Offshore Wind Farm Generates First Power

The first turbine of the 1,218-MW Hornsea 1 offshore wind farm in the North Sea, the world’s biggest such facility, has been installed and is now generating power.Matthew Wright, UK managing director of Danish energy group Ørsted A/S, described the installation of the first turbine as "a globally significant milestone".Ørsted co-owns the project with Global Infrastructure Partners (GIP) after selling a 50% stake to the latter in November 2018. Ørsted began offshore construction just over a year ago, and expects the project to be completed by Q1 2020.The project is located 120km off the Yorkshire Coast and will consist of 174 Siemens Gamesa 7MW turbines.

26 Nov 2018

Ørsted Completes Divestment in Hornsea 1 Offshore Wind Farm

Danish offshore wind farm developer Orsted A/S has completed the divestment of 50% of the Hornsea 1 Offshore Wind Farm to Global Infrastructure Partners (GIP).Three months ago, Ørsted signed an agreement to sell 50% of the 1,218MW offshore wind farm Hornsea 1 to Global Infrastructure Partners (GIP). Hornsea 1 is under construction and will be the world’s largest offshore wind farm when commissioned in 2020.As part of the agreement, Ørsted will construct the wind farm under a full-scope EPC contract. Ørsted will also provide long-term operations and maintenance services from its O&M base in Grimsby and provide a route to market for the power generated by Hornsea 1.Ole Kjems Sørensen…

19 Sep 2016

Australian Port Sold for $7.3 bln to Consortium

Photo: Port of Melbourne

A consortium of global and domestic funds, backed by investors including China Investment Corp, agreed to buy Australia's busiest port for a higher-than-expected A$9.7 billion ($7.3 billion), a sign that tough equity markets are helping fuel appetite for infrastructure. Australian leaders will also hope the deal shows they still welcome Chinese investment in infrastructure. The federal government last month blocked the sale of the country's biggest power network, Ausgrid, to state-owned State Grid Corp of China and Hong Kong-listed Cheung Kong Infrastructure Holdings on security concerns.

30 Apr 2014

China Merchants, Hastings, Lease Australian Coal Port

Hastings Funds Management and China Merchants Group have won a state government auction for a 98-year lease on Australia's Port of Newcastle, the world's biggest coal export terminal, paying a higher-than-expected A$1.75 billion ($1.6 billion). An initial New South Wales state budget plan had valued the lease on the port terminal at A$700 million, but fierce competition for Australian infrastructure assets coming on to market has seen a steady rise in multiples paid. The winning bid for Newcastle port came in at 27 times earnings, matching the 27 times earnings Transurban Group, Australia's biggest toll road owner, paid last week for a Queensland state toll road firm.

31 May 2013

MSC Sells Off Part of Its Terminal Division

MSC (Mediterranean Shipping Company) closes the 35% sale of  its Terminal Division (Terminal Investment Limited SA) to Global Infrastructure Partners (GIP). MSC and Global Infrastructure Partners and a group of its LP Co-Investors have closed the transaction through which GIP has acquired 35% of Terminal Investment Limited SA from MSC. The closing follows obtaining the relevant approvals. Terminal Investments Ltd. has grown rapidly over the last decade and is now the world's sixth largest container terminal operator. The new strategic partnership between MSC and GIP will provide a strong foundation to support TIL's continued growth, including further acquisitions and investments.