SYDNEY Feb 6 Three investment consortia, some
involving funds owned by Gulf Arab governments, plan to lodge
indicative bids for Australian state-owned toll road company
Queensland Motorways Ltd on Friday, sources close to the
The sale would continue the push by Australian state
governments to sell off large infrastructure assets to pay for
capital works programs. Analysts have estimated Queensland
Motorways could fetch about A$5 billion ($4.5 billion).
The bidders include a consortium led by Australia's Hastings
Funds Management which also includes Kuwait Investment
Authority, a government fund, Spanish toll road operator Abertis
Infraestructuras and Dutch pension fund APG Algemene
Pensioen Groep, said two sources close to the deal who could not
be identified as the negotiations were private.
Transurban Group, a major toll road operator in New
South Wales and Victoria states, will team up with
superannuation fund AustralianSuper and Abu Dhabi Investment
Authority, another government entity, to make another bid.
A third bid will involve IFM Investors, which is owned by 30
Australian superannuation funds, with Canada's Ontario Teachers'
Pension Plan and Borealis Infrastructure, the sources said.
Queensland Investment Corp, the government body selling the
asset, said first round bids were due on Friday and would not
The bidding parties either declined to comment or were not
immediately available to comment.
($1 = 1.1214 Australian dollars)
(Reporting by Byron Kaye; Editing by Miral Fahmy)