Macquarie Infrastructure Corp (MIC) - NYSE
  • Jul. 8, 2014, 12:46 PM
    | Jul. 8, 2014, 12:46 PM
  • Jul. 7, 2014, 5:39 PM
     
    | Jul. 7, 2014, 5:39 PM | 1 Comment
  • Jul. 7, 2014, 5:13 PM
    • Macquarie Infrastructure (MIC+3.8% AH after agreeing to acquire the 50% stake in International-Matex Tank Terminals it does not already own for $1.025B in cash and stock.
    • MIC expects the acquisition to be accretive to free cash flow per share in 2014, and sees underlying 2014 free cash flow of ~$4.55/share, or 11.2% higher than in 2013; MIC also introduces guidance for 2015 underlying free cash flow of $5.10/share.
    • To fund the deal, MIC announces separate public offerings of 10M shares and $250M of convertible senior notes due July 2019.
    | Jul. 7, 2014, 5:13 PM
Company Description
Macquarie Infrastructure Corp., a business development company, invests in infrastructure businesses located in the US. The fund targets companies operating in the fields of airport services, bulk liquid terminals, gas production & distribution and contracted power & energy services.
Sector: Services
Industry: Basic Materials Wholesale
Country: United States