Bidders shortlisted for GIP's stake in Port of Brisbane

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Bidders shortlisted for GIP's stake in Port of Brisbane

Local sources said that Borealis Infrastructure, the infrastructure arm of the Ontario Municipal Employees Retirement System (OMERS), and Caisse de Depot et Placement du Quebec are among bidders shortlisted to make final-round offers for Global Infrastructure Partners' stake in the Port of Brisbane lease.

Bidders for Global Infrastructure Partners' 27 % stake, including the AustralianSuper Pty pension fund, are studying financial information on the port. The holding may fetch as much as A$1 billion ($923 million).

The port is currently owned by Global Infrastructure Partners (26.7 %), Industry Funds Management (26.7 %), Brisbane-based fund manager QIC (26.7 %) and Abu Dhabi Investment Authority (19.9 %). The group acquired the asset in 2010 through a 99-year lease with the Queensland government for A$2.3 billion in 2010.

In another deal, a consortium led by IFM, in April, paid $5.1 billion for the 99-year lease for NSW's Port Botany and Port Kembla, or 25 times earnings. In contrast, Port of Brisbane was sold at a multiple of 17 times back in 2010. This evidence the increasing interest of institutional investors for infrastructure assets.

The Port of Brisbane is Queensland's largest general cargo and container port. Between July 2012 and May 2013, it handled 34 million tonnes of cargo, including 983,000 TEUs.

List of country news

Country news

  • November 26, 2013

    EOIs requested for Port of Newcastle lease

    New South Wales (NSW) Treasurer Mike Baird has launched the formal transaction process for the 98-year lease of the Port of Newcastle. Read more
  • December 02, 2013

    AMP Capital Community Infrastructure Fund acquires schools in Victoria from RBS

    The AMP Capital Community Infrastructure Fund (CommIF) has announced it will acquire a 100 % interest in the Partnerships Victoria in Schools Project from the Royal Bank of Scotland. Read more
  • December 05, 2013

    Caisse de depot et placement du Quebec buys GIP´s stake in Brisbane port

    La Caisse de dépôt et placement du Québec has announced the acquisition of a 26.7% stake in the Port of Brisbane in Australia's Queensland. Read more
  • December 09, 2013

    Bids submitted for North West Rail OTS PPP contract

    Transport for New South Wales has received two proposals for the Operations, Trains and Systems (OTS) Package of the North West Rail link project, which is being procured via a PPP contract. Read more
  • December 09, 2013

    Financial close reached for Sydney's Convention Centre PPP

    Lend Lease announced that financial close has been reached with Infrastructure NSW (INSW) and the Sydney Harbour Foreshore Authority (SHFA) for the Sydney's Convention Centre PPP project. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.