A consortium, comprising Aware Super, Australian Retirement Trust, and Macquarie Asset Management, has entered into a joint venture with the Government of Vicotria to operate the registration and licensing (R&L) and custom plates (CP) businesses of the Victorian State Department of Transport (VicRoads) in Australia.

The Joint Venture will hold a 40-year concession to operate the R&L and CP businesses. VicRoads’ R&L business is responsible for licensing approximately five million drivers in Victoria, and registering more than six million cars, motorbikes, heavy vehicles and trailers for the Victorian road network. The CP business offers the public the opportunity to purchase bespoke sized, shaped and colored general issue number plates, or the display rights to a unique registration number.

The transaction is expected to reach a financial close in mid-August. The Consortium is advised by financial advisers Macquarie Capital, Gresham and Adastra. King & Wood Mallesons is legal adviser to the Consortium.