Good evening,

Transurban is looking lonely.

Investment giant IFM Investors seems to be bowing out of the race for a stake in the NSW motorways group WestConnex, leaving Transurban in pole position.

IFM has been conducting due diligence for the better part of six months, but its decision not to bid will be welcome news to Transurban and its fellow investors in the Sydney Transport Partners consortium, including AustralianSuper and Canada Pension Plan Investment Board.

The situation is fluid though, and there could still be a surprise or two playing out before Thursday’s bid date.

Elsewhere, there’s a long shortlist of bidders for Qantas’ $550 million-odd portfolio of land, which is up for sale through Colliers; and Woolworths has sold a $54 million block of Marley Spoon shares.

We also discover that Auctus is preparing to list a REIT of US student accommodation properties, and Sweetman Renewables has formed a $15 million hydrogen joint venture ahead of pursuing a listing.

Happy reading,

Anthony Macdonald and Yolanda Redrup
Street Talk Editors