Actually, post the sale of Pacific Hydro (just announced 17.1 EV/EBITDA) even more positive on IFN.
Current valuation for IFN (well below 17x) and interestingly, here are the losing bidders for IFN:
Pacific Equity Partners (PEP)
Morgan Stanley Infrastructure Fund
China's Huadian Corporation
ENGIE (the company which was formerly GDF SUEZ)
Gas Naturale from Spain
TransAlta
Marubeni Corporation
Of these, Morgan Stanley Infrastructure Fund owns 8.2% of IFN, last increasing its position in October this year.
Perhaps IFN is the next best option ... for either PEP or Morgan Stanley.
Definitely, increasing position tomorrow.
IFN Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
