Report: Three Bidders in the Race for Melbourne Port Sale
- Business & Finance
Three bids have been submitted for the lease of the Port of Melbourne’s largest container shipping terminal, Reuters reports citing unnamed sources familiar with the matter.
One bid has reportedly been pitched by a consortium comprising Australian Macquarie Infrastructure and Real Assets fund, IFM Investors and Dutch pension fund APG, followed by Australian fund QIC and Canada’s Borealis Infrastructure Trust and finally the third consortium consisting of Australian Hastings fund with Kuwait’s Wren House.
Previous reports linked Hastings Funds Management, IFM Investors, QIC Ltd and partners as potential parties being interested in bidding for the tender.
The Victorian government launched the tender for the expression of interest for the 50-year lease of the Port of Melbourne in March. The deadline for lodging responses was Monday, 18 April 2016 (AEST).
Expressions of interest for the lease is the first step in shortlisting qualified parties, who will be invited to submit final proposals for the port.
The government said it expects to announce a preferred leaseholder before the end of 2016.
Morgan Stanley and Flagstaff Partners are the state’s financial advisers for the Port of Melbourne lease transaction.
The lease proceeds are said to be set at A$5.3 billion (USD 4.1 bn), which the government announced it would use to remove 50 of the state’s worst level crossings and build key infrastructure initiatives.
World Maritime News Staff