Select Committee on Treasury Written Evidence


APPENDIX

MACQUARIE-MANAGED ASSETS IN THE UK

  The following companies are managed by members of the Macquarie Group on behalf of investors, with various direct % stakes held.

  Airwave—Acquired April 2007 by Macquarie Communications Infrastructure Group and Macquarie European Infrastructure Fund II for £1.9 billion.

  Arqiva—December 2004 a consortium led by Macquarie Communications Infrastructure Group announced it will acquire 100% of National Transcommunications Limited and NTL Digital Limited (together ntl:Broadcast) for £1.27 billion. The business has since been renamed Arqiva.

  Birmingham Airport—24.1% of Birmingham Airport acquired by Macquarie Airports Group in December 2001

  Bristol Airport—50% of Bristol Airport acquired by Macquarie Bank in January 2001, and subsequently transferred to Macquarie Airports Group on its establishment in September 2001. In November 2006 Macquarie European Infrastructure Fund exercises option to acquire the other 50% of Bristol Airport.

  CLP Envirogas—February 2007, Macquarie European Infrastructure Fund acquired 100% of CLP Envirogas.

  East London Bus Group—June 2006 Macquarie Bank agreed to acquire 100% of Stagecoach London, the London bus transport business of Stagecoach Group plc for a total consideration of £263.6 million. The renamed East London Bus Group is now managed by Macquarie on behalf of investment partners.

  Energy Power Resources—March 2005, Macquarie European Infrastructure Fund acquired 100% of Energy Power Resources Limited.

  Isle of Man Steam Packet Company—October 2005 the Isle of Man Steam Packet Company acquired by Macquarie Bank Limited. Steam Packet is now managed by Macquarie on behalf of investment partners.

  M1-A1 Link—October 1999 Macquarie Infrastructure Group purchased Kvaerner Corporate Development Limited and Kvaerner Investments Limited, including the M1-A1 Link (known as Yorkshire Link). December 2004 the M1-A1 Link acquired by Macquarie Infrastructure Company, from Macquarie Infrastructure Group.

  M6 Toll—Midland Expressway Limited (MEL) is a private company with the government concession to design, build, open and operate the 27 miles of the M6 Toll until 2054. MEL is 100% owned by Macquarie Infrastructure Group.

  Background—October 1999 Macquarie Infrastructure Group (MIG) purchased Kvaerner Corporate Development Limited and Kvaerner Investments Limited, which included 50% of Midlands Expressway Limited which held the concession to build the M6 Toll (then known as the Birmingham Northern Relief Road). Having progressed the scheme through the public inquiry and planning processes, including the preparation of an environmental impact statement, MEL arranged finance and tendering and negotiated the construction contract for the project. Financial close was reached in September 2000 and the M6 Toll opened on 9 December 2003, having been completed within budget and ahead of schedule.

  Moto—April 2006 a consortium of investors led by Macquarie Bank acquired Moto, the UK motorway services business that formed part of Select Service Partner (SSP) from Compass Group plc. Moto is now managed by Macquarie on behalf of investment partners.

  National Grid Wireless -April 2007, Arqiva acquired 100% of National Grid Wireless for £2.5 billion.

  NCP—National Car Park's off-street, airport and railway car parking businesses acquired March 2007 by Macquarie European Infrastructure Fund II for £790 million.

  Red Bee Media—June 2005 a consortium led by Macquarie Capital Alliance Group agreed to acquire 100% of BBC Broadcast Limited for £166 million. The company has since been renamed Red Bee Media.

  Thames Water—October 2006 a consortium led by Macquarie's European Infrastructure Funds agreed to acquire Thames Water at an enterprise value of £8 billion.

  Wales & West Utilities—August 2004 a consortium of investors led by the Macquarie European Infrastructure Fund agreed to acquire the Wales & the West Gas Distribution Network from National Grid Transco. The business has since been renamed Wales & West Utilities.

  Wightlink—June 2005 the Macquarie European Infrastructure Fund agreed to acquire 100% of Wightlink Shipping Limited.

May 2007







 
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Prepared 22 August 2007