Port of Brisbane sold for A$2.1 billion
A group led by Abu Dhabi Investment Authority (ADIA) and infrastructure investment fund Global Infrastructure Partners (GIP) have agreed to buy a 99-year lease on the Port of Brisbane in Queensland, Australia for A$2.1 billion. Q Port Holdings Consortium comprises ADIA, GIP, Industry Funds Management (IFM) and funds managed by QIC Ltd. Through its subsidiary Tawreed Investments, ADIA will hold a 19% stake in the port, with the other three each holding a 27% stake. According to the Journal of Commerce, the sale of the port relieves Queensland’s taxpayers of a $1 billion bill for infrastructure upgrades. Among other projects, Queensland is investing $90 million to build the new Berth 11, which will be operated by Hutchison Port Holdings, along with the future Berth 12. The Q Port Holdings consortium members have interests in port terminals in eight countries. IFM and QIC also have stakes in the Brisbane Airport, and ADIA is a shareholder in London Gatwick Airport. Quelle: eyefortransport |
