TEXT-Macquarie consortium buys Australia's Hobart airport

(Following is a release by a consortium including Australian investment bank Macquarie Group (MQG.AX: Quote, Profile, Research, Stock Buzz)

SYDNEY, Dec 13 - Tasmanian Gateway Consortium ("TGC") today announced that it has signed an agreement with Tasmanian Ports Corporation Pty Limited to acquire 100% of Hobart International Airport Pty Limited ("Hobart Airport") for $350.5 million.

Hobart Airport is Tasmania's principal airport and serves the State's most populous city. The airport has well established infrastructure links providing convenient access to the City of Hobart.

TGC's vision is to grow and develop Hobart Airport's principal airport status, maintaining a safe and secure airport environment.

TGC will operate Hobart Airport in a manner that delivers value and quality service to customers.

It will explore a range of potential new initiatives that have been identified to meet passenger and airline needs, including airline marketing, retail expansion in the newly redeveloped terminal, further terminal expansions in future, and increased car parking options.

TGC comprises Macquarie Global Infrastructure Fund III ("GIF III"), Macquarie Capital Group Limited and Retirement Benefits Fund Board ("RBF"). GIF III is a diversified infrastructure fund investing in infrastructure and infrastructure-like assets. Macquarie Capital Group is a wholly owned subsidiary of Macquarie Group Limited. RBF is Tasmania's largest public sector superannuation fund with approximately $3.5 billion in funds under management.

TGC looks forward to managing the airport for the benefit of passengers, airlines and other airport stakeholders.