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Market Chatter: Rio Tinto's Infrastructure Assets Draw Interest From Singapore Wealth Fund, Ares Management

MT Newswires Live
Oct 05

Rio Tinto Group's (ASX:RIO) auction of infrastructure assets in Western Australia and Canada is attracting interest from Singaporean sovereign wealth fund GIC, which has engaged JPMorgan to draw up a bid, the Australian Financial Review reported Sunday, citing anonymous sources.

New York-listed asset manager Ares Management is also looking to participate in the auction and is preparing an indicative offer for the assets, which are expected to be valued at about AU$7 billion in aggregate, according to the report.

Rio Tinto, GIC, and Ares Management did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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