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Australia anti-trust regulator reviews Port of Melbourne acquisition

Published 2016-06-24, 02:21 a/m
© Reuters. Australia anti-trust regulator reviews Port of Melbourne acquisition

SYDNEY, June 24 (Reuters) - Australia's anti-trust regulator
on Friday said it was reviewing the proposed acquisition of Port
of Melbourne by a consortium of state fund QIC, Global
Infrastructure Partners and Canada's Borealis Infrastructure
Trust.
A wholly-owned subsidiary of QIC manages a 26.7 percent
interest in the Port of Brisbane while GIP manages under 20
percent in Port Botany and Port Kembla, the Australian
Competition & Consumer Commission said in a statement.
The ACCC has invited submissions from industry players
seeking their views on whether the proposed acquisition would
have an impact on competition in the port sector.
The closing date for submission is July 8 while a decision
is expected to be announced on Aug.18, the ACCC said on its
website.
Three consortia of Australian and international funds
submitted bids in April for a 50-year lease of the Port of
Melbourne, Australia's biggest shipping container terminal to
help the state government of Victoria raise funds for
infrastructure upgrades.

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