Consortium buys Brisbane Port for US$2bn

Comprising of four of infrastructure investors, the Q Port Holdings consortium includes major stakeholders Global Infrastructure Partners (GIP), Industry Funds Management (IFM) and funds managed by QIC Limited (QIC), and a minority stake held by Tawreed Investments Ltd., a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

In the deal the State will receive a total of A$2.1bn (US$2bn) for the lease. In addition the buyer will take responsibility for future upgrades of section 3 of the Port of Brisbane motorway, at an estimated cost of A$200m (US$195m).

“The signing of the deal represents A$2.3bn [(US$2.2bn)] worth of value to the Queensland taxpayer with the future development of the Port now the responsibility of a quality consortium,” State Treasurer Andrew Fraser said.