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Australia : OMERS part of consortium acquires a 50-year lease on the port of Melbourne for $9.7 billion
Publish Date : 23-Sep-2016
A consortium that includes the private markets division of the Ontario Municipal Employees Retirement System has purchased a 50-year lease on the port of Melbourne in a deal worth around $9.7 billion.
Apart from the pension fund, the Lonsdale consortium includes Australias sovereign wealth fund, the Future Fund, together with global investment firms QIC and Global Infrastructure Partners.
Australias largest container, automotive and general cargo port, the port of Melbourne, links the countrywith major trading partners.
Ralph Berg, executive vice-president and global head of infrastructure at OMERS private markets arm said, We are confident that our global expertise in managing similar assets will see the port of Melbourne continue to operate as Australias leading container and multi-cargo port and we look forward to working with port users and stakeholders to further improve the productivity of this important asset.
Berg added, As part of its successful bid, the Lonsdale consortium will invest substantial capital to expand the existing capacity of the port to service the freight needs of the state for 50 years. The consortium is also committed to fostering close ties with industry and the local community.
