IFT - Infratil

[3141592]

Anyone have a view on likelihood that Uniti AU acquisition could potentially be an IFT asset? No nzx announcements from IFT, would there need to be for a non binding DD period? Press positioned as an MCO move so a bit confused by ambiguity of final ownership…

[kiora]

Anyone have a view on likelihood that Uniti AU acquisition could potentially be an IFT asset? No nzx announcements from IFT, would there need to be for a non binding DD period? Press positioned as an MCO move so a bit confused by ambiguity of final ownership…

My understanding IFT will not be ultimate owner
Just Morrison & Co Infrastructure Fund
https://hrlmorrison.com/what-we-offer/

And Brookfield

IFT typically doesn't invest in mature assets?

[3141592]

My understanding IFT will not be ultimate owner
Just Morrison & Co Infrastructure Fund
https://hrlmorrison.com/what-we-offer/

And Brookfield

IFT typically doesn't invest in mature assets?

I hear you, but from a relatively light scan of the asset - it has some characteristics that strike me as very IFT in nature.
It's a digital infrastructure asset - which is one of their core investment pillars.
It's growing rapidly generating strong cash conversion (they'll like it as a core / core plus).
It is capitally intensive - right in IFT sweet spot.
It has been growing rapidly from organic growth and looks set to continue this trend.
It has a small telco business - which is adjacent to vodafone... could be interesting.
I wonder whether the ownership destination is settled... that's why I'm curious.
At this value it sets just right within IFT target capital headroom, and would be the infill post Tilt.
It would enable them to continue to progress their dividend yield as i would describe it as semi-mature, rather than a 'stodgy' mature business.
All will be revealed in time... it might not meet the 12% base line return threshold... and it might be that the process of the DD will determine whether this can meet an IFT criteria or not.
So MCO review and will finalise placement post DD?

[maclir]

Anyone have a view on likelihood that Uniti AU acquisition could potentially be an IFT asset? No nzx announcements from IFT, would there need to be for a non binding DD period? Press positioned as an MCO move so a bit confused by ambiguity of final ownership…

All looks a little messy - not least having to increase the offer by 50c when it turns out the competitor wasn't really in the running. https://www.arnnet.com.au/article/69...er-vocus-link/

[kiora]

Woow
Nearly half the price they paid for all of Vodafone? ($3.4b)
https://www.rnz.co.nz/news/business/...y+9+April+2022
"Vodafone's decision to possibly spin out its towers, which are estimated to be worth about $1.5 billion, follows a similar move by its rival Spark, which had created a new subsidiary to hold its mobile sits and was now on the lookout for third-party investment."
Rinse & repeat

[alokdhir]

Was wondering if lower NZD helps IFT ...as it has lots of assets outside NZ ...so they get valued higher in NZD terms ie SP up .

It seems IFT is the strongest stock on NZX at the moment so was trying to figure out why so .....lower NZD also helps its NZD denominated SP !!!

[Muse]

Was wondering if lower NZD helps IFT ...as it has lots of assets outside NZ ...so they get valued higher in NZD terms ie SP up .

It seems IFT is the strongest stock on NZX at the moment so was trying to figure out why so .....lower NZD also helps its NZD denominated SP !!!

yes all else equal I would have thought so

Quite a lot of IFT's NTA comes from independent valuations. I always wondered how those valuations would fare as interest rates rise. Infrastructure really boomed as interest rates fell and infrastructure assets started getting bought and priced on skinny returns.

been a sensational performer. well run by very competent team at morrisons

[Ggcc]

[QUOTE=Fiordland Moose;954528]yes all else equal I would have thought so

Quite a lot of IFT's NTA comes from independent valuations. I always wondered how those valuations would fare as interest rates rise. Infrastructure really boomed as interest rates fell and infrastructure assets started getting bought and priced on skinny returns.

been a sensational performer. well run by very competent team at morrisons[/QUOTE

Please don’t tell some other punters who have mentioned high management costs as to how well this investment has done. Sour grapes and all.

Ps I am a happy invester with an average $3 price tag. Over 100% gain. I’m quite happy to see it head over $10 I the next few years

[kiora]

A pretty good endorsement
https://stocknessmonster.com/announc...ft.nzx-391361/

[RTM]

A pretty good endorsement
https://stocknessmonster.com/announc...ft.nzx-391361/

Yes...7.99 / share.