Port of Brisbane goes for $2.3 billion
In the latest big infrastructure deal to come out of Australia, Q Port Holdings, a consortium comprising Australia’s Industry Funds Management (IFM), funds managed by the Queensland Investment Corporation (QIC), US infrastructure firm Global Infrastructure Partners (GIP), and Tawreed Investments Ltd., a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), won the 99-year lease for the Port of Brisbane from the Queensland government as part of an asset privatization program, for A$2.1 billion ($2.1 billion) in cash.
The new consortium will also fund a future upgrade of a section of the port’s motorway for a further A$200 million ($200 million), taking the whole deal value to $2.3 billion. Queensland Treasurer Andrew...
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