Port of Melbourne A$9.7 billion privatisation

Overview:

• Lonsdale Consortium has acquired the 50-year lease of the Port of Melbourne for A$9.7 billion from the Victorian government.
• The transaction was one of the largest infrastructure deals in Australian history and one of the largest in Asia-Pacific in 2016.
• The port is a critical component of the supply chain that supports the Victorian and national economies, and the transaction proceeds will fund the removal of 50 of Victoria's worst level crossings and construction of the Melbourne Metro, West Gate Distributor and other important transport initiatives.
• The transaction involved 2.5 years of planning and execution, unprecedented public scrutiny including review by a Parliamentary Select Committee, and prevailed through a change in state government and changes in foreign investment regulation.
• The project also included the design and construction of the A$1.6 billion third international container terminal development.
• The successful bidder for the port lease, the Lonsdale Consortium, was comprised of the Future Fund, QIC, Global Infrastructure Partners and OMERS. 

Adam Majeed - Regional editor