China Merchants to bid for Melbourne’s lease

China Merchants will participate to the final stage of the bidding process for the Port of Melbourne’s 50-year lease, Australian media reported.

The second-round bids are due in September this year, with the port set to be sold for at least AUS$6bn despite having a book value of AUS$4.5bn, The Australian claimed.

Other bidders include a consortium comprising investment firms IFM, Macquarie Infrastructure and Real Assets (MIRA) and APG Asset Management, as well as a bidding group backed by Credit Suisse and Gresham including Queensland Investment Corporation, Borealis and Global Infrastructure Partners.