August 27, 2018 / 3:27 AM / 3 months ago

Australia's Victoria state gets $2 bln in land title register rights deal with First State Super

SYDNEY, Aug 27 (Reuters) - Australia’s Victoria state has agreed to sell a four-decade concession to run its land and property registries to pension fund First State Super for A$2.86 billion ($2.09 billion), the government said in a statement on Monday.

The state will use the proceeds to invest in schools, hospitals and transport projects, according to the statement.

First State Super last year was part of a consortium that paid A$2.6 billion to get a similar land title lease in neighboring New South Wales, Australia’s most populous state.

Reporting by Paulina Duran; Editing by

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