Business
NSW splits $10b WestConnex stake to encourage bidders – The Australian Financial Review
NSW will have its bankers run separate auctions for two 24.5 per cent stakes in motorways owner WestConnex, in an effort to encourage bidders to take on Transurban…
To entice IFM Investors, Macquarie’s MIRA, one of the big offshore tollroad groups like Abertis or anyone else to take on Transurban, the government is offering financial support to the tranche one auction’s runner up.
It says it will pay a “capital commitment fee” to compensate the underbidder for taking part in the auction and lobbing a binding bid.
Fund managers said that structure came out of soundings NSW Treasury and its bankers had with the likes of IFM, MIRA, Abertis, and others in recent…
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