Macquarie Int’l Infrastructure Fund Closes Sale Of 90% Stake In Hua Nan Expressway

Macquarie International Infrastructure Fund has reached financial close on the sale of its 90 percent interest in South China Highway Development, which in turn holds a 90 percent stake in Hua Nan Expressway, to Topwise Consultants for a consideration of $110 million.

The fund will distribute the net proceeds of the sale and any excess cash following the settlement of its liabilities to the shareholders, by way of redemption of the ordinary shares in the capital of the fund.

Net amount to be distributed to shareholders is expected to be no less than $0.0825 per share. The final share redemption price will be announced on 22 September 2015.

The share redemption will lead to the delisting of the fund from the Singapore Exchange and its subsequent winding up. Trading in the shares will be suspended from 18 September.

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