The aura surrounding investment banks took a battering during the global financial crisis and the time investors devote to their moves has ebbed somewhat in the aftermath. But wise onlookers will remember they’re filled with smart people. Hence, Macquarie’s sale of a stake in Britain’s Thames Water raises a few questions: Is it the sluggish British market, or an easing love of water utilities? Or is it just time, having clenched the asset five years ago? Meanwhile, Insurance Australia Group rumours have taken an entirely different turn, with Mike Wilkins apparently shopping in Malaysia. Elsewhere, APA Group might have to do better to win Hastings Diversified Utilities Fund, there’s a handful more deals in the pipeline for the coal sector and Beach Energy mightn’t have to tap its shareholders after all.
Macquarie Group, Abu Dhabi Investment Authority