Macquarie European Infrastructure Fund to sell Stockholm's A-Train
According to sources, Macquarie European Infrastructure Fund (MEIF) has hired Bank of America Merrill Lynch to refinance and sell A-Train AB, the holding company of the Arlanda Express, a high-speed rail service linking Arlanda Airport to Stockholm's city center.
MEIF, a fund managed by Macquarie Infrastructure and Real Assets, has sent an information flyer to prospective buyers, the WSJ reports.
MEIF acquired A-Train for 400 million Swedish krona (US$62.3 million), including debt, in January 2004. The sale could be related to the end of the fund, which has a 10-year life. However, the fund can seek an up to four-year extension from its investors.
A-Train AB owns the right to operate the trains until 2040. Currently, it runs seven Alstom trains with a maximum speed is 200 kilometers per hour.
The project was awarded in August 1994 being the first PPP project in Sweden. The winning consortium ALC consisted of the Swedish companies NCC, Siab and Vattenfall, as well as the British companies Mowlem and GEC Alsthom.
Work began in 1995. NCC and Siab were resonsible for all construcion, civil engineering and overhead power lines.Country news
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