Western Australia seeks Financial adviser for ports sale
Date
October 23, 2014
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The Government of Western Australia announced last week that potential bidders have shown a keen interest in the asset sales process with an unprecedented level of enquiries from people looking for information about the assets.
In late August, Premier Colin Barnett and Treasurer Mike Nahan announced the Government's first tranche of asset sales, including Port Hedland's Utah Point Bulk Handling Terminal, the Kwinana Bulk Terminal and Market City in Canning Vale.
Mr Barnett said:
"This is an extremely positive response, reinforcing the Government's decision to commence due diligence on the first tranche of assets and provides an encouraging sign that there will be competitive bidding once sales processes begin."
Dr Nahan said Treasury had released an open tender for the engagement of the lead financial adviser for the announced port assets (Kwinana Bulk Terminal and Utah Point Bulk Handling Facility) to support activities to progress detailed scoping and due diligence.
The Treasurer said the due diligence phase would confirm all details about the potential sale and involved defining the precise boundaries of the proposed transactions, including the resolution of any key outstanding government policy decisions.
The Government of Western Australia anticipated that Treasury would separately approach the market for a lead adviser later this month for the sale of the Perth Market Authority (Market City).
Expressions of interest for the announced asset sales are expected to be sought in 2015, after the completion of detailed due diligence.See tender for Financial advisory role: https://www.tenders.wa.gov.au/watenders/index.do
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