Briefs: RHG bid withdrawn, new incentives for infrastructure investors
After two months of negotiations, the offer for RHG's loan book has been withdrawn. Yesterday, RHG notified the Australian Securities Exchange that discussions with the bidder, thought to be mortgage manager Resimac, had ceased. RHG had already flagged, in an announcement last month, that the indicative offer was inadequate. Investors in "nationally significant infrastructure projects" will benefit from tax incentives outlined yesterday by Treasury. A draft bill provides for an uplift in the value of carry-forward losses by the 10-year government bond rate, as well as exempting the losses from the continuity of ownership test and the "same business" test. The draft bill gives effect to policies announced in last year's budget.