Global Infra Partners Explores Brisbane Port Sale – report

According to the Wall Street Journal, GIP's 26.7% stake in Port of Brisbane could be valued at more than A$800 million ($728 million) The firm has held meetings with potential buyers of the stake, though it hasn't made a formal decision to sell it.

The infrastructure specialist invested in a consortium alongside Abu Dhabi Investment Authority, Industry Funds Management and QIC in a A$2.1 billion deal in November 2010.

Port of Brisbane is Queensland's largest general cargo port. It processed more than 38 million metric tons of cargo last year.

The potential Port of Brisbane stake sale would follow the A$5.1 billion acquisition of 99-year leases for New South Wales state's Port Botany and Port Kembla in April, at a multiple of 25 times annual earnings. The buyer NSW Ports Consortium includes Industry Funds Management, Abu Dhabi Investment Authority, Australian Super and super funds Cbus, HESTA and HOSTPLUS.

The New South Wales government has hired Morgan Stanley to study a possible sale of the Port of Newcastle, the world's biggest coal-export terminal, which could fetch up to A$700 million.

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• Topics
• Australasia
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