QIC’s Epic move; Telco tag teams; Chr ysos IPO ‘covered’

Good evening,

Whoever said there were going to be very few infrastructure assets for M&A this year wasn’t thinking of exits.

QIC has put its South Australian gas pipeline company Epic Energy on the auction block after nine years of ownership.

And across the ditch, bidders are starting to crystallise for Vodafone NZ’s towers auction.

Street Talk hears that Ontario Teachers and NZ Super’s intentions of lobbing a bid were the most advanced, as detailed information memorandums hit inboxes on Thursday.

In IPO land, this year’s chunkiest listing, Chrysos, is off to the races. Its lead manager, Barrenjoey, is covering the book at $6.50 a share for a market cap of $637 million.

Elsewhere, CardiologyCo’s bids are due soon; PE shop Merchant Place is closing in on a stake in legal services business LegalStream; and former Bombora co-CIO Gregg Taylor has a new role running Salter Brothers LIC.

Happy reading,

Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk Editors