April 17, 2024
Deals
NPS acquires stake in Port of Melbourne
[THE INVESTOR] A consortium of global investors including South Korea’s National Pension Service have agreed to acquire the Port of Melbourne for AU$9.7 billion (US$7.32 billion).
The NPS, which oversees $430 billion in assets, invested over AU$500 million into Australia’s busiest port for containerized and general cargo.
The consortium is led by Queensland Investment Corporation, the Future Fund and Global Infrastructure Partners.
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The Korean pension fund established a joint fund with other institutional investors including QIC to invest in infrastructure that the Australian government has sought to privatize.
The finalized price for the 50-year lease of the port includes a 15-year prepayment of an $80m-a-year license fee.
By Park Han-na (hnpark@heraldcorp.com)
