Institutional Investor Group Pays $7.05 Billion for Queensland Motorways
After an extensive bidding process, a group of investors that include, Melbourne-based Transurban Group, AustralianSuper Pty, and Tawreed Investments, won the bidding war and became the new owners of Queensland Motorways. The investor group agreed to pay A$ 7.05 billion (US$ 6.6 billion) for a 70 km network of toll roads and bridges from the Queensland Investment Corporation (QIC). ASX-listed Transurban, is Australia’s largest operator of toll roads.
In 2010, Transurban fended off a takeover attempt by CP2 Ltd and some Canadian pensions such as the CPPIB. Tawreed Investments is a sovereign wealth enterprise of the Abu Dhabi Investment Authority.
Goldman Sachs and Morgan Stanley were the advisors of the Transurban-led group.
Queensland Motorways – Consortium Splits
- Transurban – 62.5%
- AustraliaSuper – 25%
- Abu Dhabi Investment Authority (Tawreed) – 12.5%
Three Investment Consortia
Hastings Funds Management
Kuwait Investment Authority
Group 2 – WINNERS
Abu Dhabi Investment Authority
IFM Investors (owned by 30 superannnuation funds)
Ontario Teachers’ Pension Plan
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