Castalia Capital Advisory - Strategic · PDF fileUBS Concession for a second runway Colombia...

Castalia Capital AdvisoryCatalysts for investment success

Castalia’s independent risk assessment expertise in thetransport, water, telecom and energy sectors assistsindustry leaders with identifying lucrative deals, makingsound financial decisions and managing risk.

Mission

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Who We Are• Castalia is an independent, international economic and financial

advisory firm with broad experience in transport, energy, telecomsand water

• Our mobile team of 40 professionals is based out of our offices inWashington, D.C., Sydney (Australia), Wellington (New Zealand),Paris (France), and Bogotá (Colombia)

• Castalia’s mission is to apply our real world, practical, market-tested knowledge of project risk and return in the context ofcompetitive, regulatory, cost, and demand drivers

• We are a global firm with local presence and knowledge. We offerunbiased, objective advice without the influence of outsideshareholders or interests.

www.castaliacapitaladvisory.com

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Castalia Track Record

• Advised on privately financed infrastructure projects worldwide totaling more thanUS$70 billion across the transport, energy, and water sectors

• Advised on assignments in more than 60 countries in the Americas, Africa, Asia,Europe, Oceania, and the Caribbean

• Worked on successful transactions for private investors, developers, governments,utilities, and multilateral banks.

Many of our engagements are from repeat clients, demonstrating our dedication and the quality, commitment and value of our work product.


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Our Work Has


• Enabled our clients achieve successful, closed financings

• Better positioned our clients’ investments for long-term financialviability

• Provided assurance to lenders and investors

• Provided unbiased assessments of project, environmental and regulatory risk and return profiles

• Identified opportunities for capturing or creating value, and assisted our clients shape their hold or divestment strategies

• Featured global best practices, combined with local and sectorknowledge.

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Feasibility analysis

Project risk

Regulatory risk

Value for money

Services During the Entire Project Lifecycle

Castalia’s expertise helps our clients identify good deals, make soundinvestment decisions, and manage project, regulatory, and government risk atevery phase of the development lifecycle.


Due diligence

Valuation support

Lenders’ reports

Transaction support

Idea generation

Project sourcing

Deal origination

Due diligence

Valuation

Lenders’ reports

Business case

Commercial case

Negotiation

Transaction Launch and Execution

Post-transaction close

Operational Performance and

Monitoring

Optimizing revenue

Managing risk

Investment Decision

Screening

OperationsCASTALIA’S EXPERTISE

‐ Project economic drivers and financial analysis

‐ Regulatory and contract analysis, risk register‐Market analysis‐ Global knowledge

Divestment Advice

Commercial Assessment

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Full Suite of Services

CLIENT TRANSACTION TEAMLegal

Accounting

Financial Advisor/ Investment Bank

RiskOpEx/OM&R CapEx Environmental

Pricing/Tariffs

Demand/Revenue

Operations Competition/ RegulationCASTALIA

VALUE ADDED

Castalia global and sectoral expertise Source &

Manage

Best of breedasset specialists


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Selected Clients


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Broad Asset Coverage


• Transportation Roads, airports, railways, ports

• Utilities and PipelinesPower transmission and distribution, oil and gas pipelines, water systems, waste collection and treatment

• Generation Thermal and renewable, long term contract and merchant generation

• CommunicationsTelecommunication towers, cable networks, satellite systems

• Social infrastructure Hospitals, schools, stadiums, prisons, courts, subsidized housing

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Energy Sector Experience of Our Senior Professionals


$3.4 billionAES Corporation

Coal and gas‐fired generation assets acquisition Philippines

Market and Strategy Advisor2007

Ilijan and St. Rita Power Plants

$1 billionQueensland Investment Corporation

Purchase of 50% stake of electricity distribution utility New Zealand

Market Advisor2008

Powerco Power Utility

$1.2 billionHastings Fund Management

Purchase of 41% of electricity transmission company

Australia

Regulatory Advisor2012

Electranet

$3.2 billionOrigin Energy

Purchase of 2880 MW power station plus retail assets of Integral Energy

and Country EnergyAustralia

Competition Advisor2011

Eraring Power Station and Retail Assets

$630 millionGenesis Energy

Acquisition of the 185MW Tekapo A&B hydropower stations

New Zealand

Market and Financial Advisor2010

Tekapo Hydropower Plant

$3 billionIndonesia Infrastructure Guarantee

Fund

1,800MW IPP sale Indonesia

Risk Appraisal2012

1,800MW Coal‐Fired Power Plant

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Port Experience of Our Senior Professionals


$250 millionPort of New Orleans

Napoleon Avenue container terminal P3

US

Concession Advisor2010

Port of New OrleansContainer Terminal

$150 millionManatee County Port Authority

Options for capital improvement and terminal expansion

US

Financial and Concession Advisor2012

Port of Manatee

$2.4 billionOntario Teachers’ Pension Plan

Container terminal acquisitionCanada, US

Transaction Advisor2007

North American Container Terminals, NY/NJ/Vancouver

$600 millionAdvent International

Acquisition of an active concessionBrazil

Equity Advisor2011

Port of Paranaguá Container Terminal

$800 millionLyttelton Port of Christchurch

P3 Port MergerNew Zealand

Economic Advisor2009

Port of Otago and Lyttelton Port

$2 billionQIC, CPPIB & AimCo

Port privatizationAustralia


Port Botany and Port Kembla

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Airport Experience of Our Senior Professionals


$1 billionAdvent International

International airport concession Brazil

Equity Advisor2012

Guarulhos International Airport

$250 millionInternational Finance Corporation

Options for concessioning four airports Jamaica

Concession Advisor2010

Norman Manley Airport

$600 millionHighstar Capital/Asur Consortium

P3 airport concession Puerto Rico

Equity and Lenders Advisor2013

Luis Muñoz Marin International Airport

$300 millionUBS

Concession for a second runwayColombia


El Dorado International Airport

$187 millionChristchurch International Airport

Commercial Strategy for airport pricingNew Zealand

Commercial Advisor2010

Christchurch International Airport

$135 millionNational Investment Bank of Jamaica (Now Development Bank of Jamaica Ltd.)

International airport privatizationJamaica


Sangster International Airport

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Surface Transport Experience of Our Senior Professionals


$900 millionTransurban & Fluor

Highway P3 transaction US

Lenders’ Due Diligence Advisor2012

I‐95 High Occupancy Express, Managed Lanes (HOT/HOV)

$900 millionInter‐American Development Bank

160km toll road developmentBrazil

Technical, Market, and Financial Advisor2002

Sistema Anchieta‐Imigrantes Toll Road (Lot 22)

$2.1 billionMacquarie & Skanska

Extension of MLK FreewayUS

Lenders’ Technical and Traffic Advisor2012

Midtown/Downtown Tunnel, MLK Freeway

$2.5 billionIndonesia Infrastructure

Guarantee Fund

Preparation of a coal hauling railwayIndonesia

Financial Advisor2012

Central Kalimantan Coal Railway

$2.6 billionGovernment of Victoria

Franchise reorganization and concession retender

Australia

Contract Advisor2002

Australian Rail and Tram Franchises

$500 millionInter‐American Development Bank, Financial Security Assurance, & Dexia

P3 toll road developmentChile


Santiago‐Valparaíso‐Viña del Mar Toll Road

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Water Sector Experience of Our Senior Professionals


$250 millionMultilateral Investment

Guarantee Agency

Evaluation of a water supply projectJamaica

Financial and Economic Advisor2010

Jamaican Water Supply Project

$100 millionIndonesia Infrastructure

Guarantee Fund

Bulk water P3 project appraisalIndonesia

Financial Advisor2012

$2.3 billionOntario Teachers’ Pension Plan &Hastings Funds Management

Desalination plant asset acquisitionAustralia


Sydney Desalination Plant

$300 millionInter‐American Development Bank,

Obrascon Huarte Lain Group

Reverse osmosis desalination plantChile

Technical and Market Due Diligence Advisor2002

Antofagasta Seawater Desalination Plant

Bandar Lampung Bulk Water Supply Project

$197 millionHawke’s Bay Regional Council

Demand forecast for irrigation projectNew Zealand

Strategic Advisor2012

Ruataniwha Plains Water Storage Project

$750 millionInternational Finance Corporation

Wastewater treatment P3Egypt

P3 Advisor2008

New Cairo Wastewater Treatment Plant PPP Project

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Why Engage Us?


You can rely on a Castalia report.

Our commercial and technical insights help clients assess value, mitigate risks, and structure workable procurement and financing strategies leading to acquisitions, divestments, and Public Private Partnerships

We step in quickly and work to the pace and granularity required by the investor and lender community

We have the bandwidth for a full diligence effort given our global reach and access to best of breed, independent asset specialists

We’re independent, objective, and have global best practice experience

We have a track record of helping our clients take projects to market

16www.castaliacapitaladvisory.com

Our Senior TeamDavid Ehrhardt – Chief Executive, CastaliaDavid focuses on private finance andregulation of infrastructure and utilities.Qualified in law and economics, hisexperience prior to Castalia includes work oninfrastructure, regulation and finance at theNew Zealand Treasury, London Economicsand Azurix. He is skilled in developing newstructures for private investment in publicinfrastructure, and also advises governmentson ways to improve policy and organization ininfrastructure sectors.

Alex Sundakov – Executive DirectorMr. Alex Sundakov leads Castalia's capitaladvisory practice, based in Sydney. He bringsa unique combination of public policyleadership and commercial experience. Since2003, he has advised on numeroustransactions for private clients, national andmunicipal governments, and internationalinstitutions. In the energy, water andtransportation sectors. In energy in the lastfive years alone, Alex has advised on dealstotaling over US$13 billion for some of thebiggest private sector clients in Australia andNew Zealand.

Yuval Cohen – ConsultantDr. Cohen is a financial and economic advisorwith over 27 years of experience in builtinfrastructure, having worked in North,Central and South America, Central Europe,and the Middle East. He has supported overUS$16 billion in closed capital raised inAmerica and Europe, with an enterprise valueof several times that amount.

Michael Schur –Managing Director Mr. Schur is Managing Director of Castalia’sSydney office, where he has responsibilityfor the Australian and South East Asianpractices. His focus is on competition issues(mergers and acquisitions, restrictive tradepractices, third party access), market andregulatory due diligence for infrastructuretransactions, and infrastructure in theresources sector.

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WashingtonT +1 (202) 466 67901747 Pennsylvania Avenue NWSuite 1200 Washington, D.C. 20006United States

SydneyT +61 (2) 9231 6862Level 1 Kyle House27-31 Macquarie PlaceSydney, NSW 2000Australia

WellingtonT +64 (4) 913 2800Level 2, 88 The TerracePO Box 10-225WellingtonNew Zealand

ParisT: +33 (1) 45 27 24 557 Rue Claude ChahuParis 75116 France

BogotáT: +571 6466626Carrera 7 No. 99-53 Torre 1, Oficina 1424BogotáColombia

Alex.Sundakov@castalia‐advisors.com

Alex Sundakov

For more information please contact:[email protected]

David.Ehrhardt@castalia‐advisors.com

David Ehrhardt

Castalia Capital Advisory - Strategic · PDF fileUBS Concession for a second runway Colombia...

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