QNS reported:
The Port Authority of NY&NJ today voted and approved the Ferrovial Airport Corporation assumption of shares from Carlyle Group in the redevelopment of Terminal One (New Terminal One-NTO) at JFK Airport as the control lead investor of the project -a $9.5 billion project and largest single component of redevelopment.
Airport Technology reported in February:
Carlyle holds a 51% stake in NTO and if an agreement is signed between the two parties, Ferrovial Airports would acquire 96% of the said stake.This is the second large infrastructure project Carlyle exited. Carlyle dropped its lead developer role for the Port of Corpus Christi's Harbor Island project. Carlyle went from a 51% stake down to 2% for NTO at JFK. Ferrovial is a Spanish firm with global spread. It manages several British airports. Carlyle knows how to keep airport deals with foreign companies out of the news.
The greed and leverage boys know when it's time to raise cash.
Global investment firm Carlyle (NASDAQ: CG) today announced that it has entered into exclusive negotiations to a sell a controlling stake in Euro Techno Com Group (“ETC” or the “Company”), a leading a “one-stop shop” value-added distributor for the telecom network and technology infrastructure industry, to Cinven.
Cinven is a European private equity underwriter (PEU). Can the two PEUs reach a deal before economic conditions erode further?
Carlyle cashes in as the world enters recession watch.
Update 2-29-24: Carlyle remains involved in financing the project and affiliate AlphaStruxure will design, build and operate the microgrid for Terminal One.
