The potential sale of BrisConnections is again up in the air as Macquarie Groupagitates for change to a planned structure for the $1.3 billion-plus auction. Macquarie, which holds the most debt in the Queensland-based toll road group, has teamed up with hedge funds to refuse signing a standstill agreement that would see debt unable to be traded during the auction.
The deal will fall flat if Macquarie can’t be appeased, making a planned global roadshow from receiver PPB and advisor Fort Street redundant. Should the sale get back on track, Transurban is widely expected to win out with help from partners AustralianSuper and Abu Dhabi Investment Authority.
TCL Price at posting:
$10.02 Sentiment: Hold Disclosure: Held
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