Three joint ventures have bid for a 50-year lease at Australia’s port of Melbourne, according to Reuters. The long path to privatising Australia’s largest container terminal has been batted around local politicians for many months. The deal is expected to net the Victorian state government A$5.3bn ($4.1bn).
Australian bank Macquarie Group’s Macquarie Infrastructure and Real Assets fund has linked up with domestic infrastructure fund IFM Investors and Dutch pension fund APG for one bid. Another venture sees Australian fund QIC and Canada’s Borealis Infrastructure Trust joing forces. A third consortium is made up of Australian fund Hastings with Kuwait’s Wren House.