IFM Global Infrastructure Fund (IFM GIF) announced that it had dropped the plan to purchase an entire interest in Atlas Arteria after initially acquiring a significant stake in the business and exploring a complete acquisition. As on 8 June 2022, the IFM Global Infrastructure Fund and its associates announced that they had purchased a combined relevant stake and economic interest in approx. 15% of the issued shares of Atlas Arteria.
After the announcement, IFM GIF’s representatives requested the company to provide certain company information, before deciding whether to submit an indicative proposal to purchase all the Atlas Arteria shares that it does not already own. IFM GIF’s representatives met with senior management from ALX on Friday, 17 June 2022, and Wednesday, 6 July 2022. A further meeting was held between the parties on Wednesday, 20 July 2022.
Following various meetings with Atlas Arteria, “IFM Investors confirms that IFM GIF is not presently in a position to meaningfully progress a proposal with ALX and has determined to close discussions with ALX.”
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