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Melbourne port has 3 bidders for US$4.27 billion container terminal
THREE bidders are in the running to build Australia's biggest container terminal in Melbourne, and they are expected to raise A$5 billion (US$4.27 billion) for Victoria state, Reuters reports.
In the running are IFM Investors, which has hired investment banks JPMorgan Chase & Co and Barclays Capital to prepare a bid for Port of Melbourne, while a consortium of Hastings Funds Management Ltd and Kuwait sovereign fund Wren House Infrastructure Management have hired UBS, said the report.
The Queensland state fund, QIC Ltd, is also expected to appoint a bank to place a bid, said the source who spoke on condition of anonymity because they were not authorised to comment publicly.
In April, Hastings and Hong Kong's China Merchants jointly bought Australia's biggest coal terminal, Port of Newcastle in New South Wales, for A$1.75 billion. In 2013, IFM and several other pension funds bought Port Botany in Sydney A$5.07 billion.
In the running are IFM Investors, which has hired investment banks JPMorgan Chase & Co and Barclays Capital to prepare a bid for Port of Melbourne, while a consortium of Hastings Funds Management Ltd and Kuwait sovereign fund Wren House Infrastructure Management have hired UBS, said the report.
The Queensland state fund, QIC Ltd, is also expected to appoint a bank to place a bid, said the source who spoke on condition of anonymity because they were not authorised to comment publicly.
In April, Hastings and Hong Kong's China Merchants jointly bought Australia's biggest coal terminal, Port of Newcastle in New South Wales, for A$1.75 billion. In 2013, IFM and several other pension funds bought Port Botany in Sydney A$5.07 billion.
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