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HomeMaritime NewsRegionsAsiaAustralian fund sells port stake

Australian fund sells port stake

Australian fund sells port stake
Melbourne: Australian Infrastructure Fund (AIX) has entered into an agreement to sell 50% of its stake in the Port of Portland to Palisade Ports for A$66.5m ($65.5m).

The agreement for the sale is unconditional, and is expected to complete on 23 May.

The divestment by AIX of its interests in Port of Portland follows the successful divestment by AIX of its interests in both Port of Geelong and Metro Transport Sydney earlier this year. Taken together, AIX is expected to receive a total of A$100.8m from the divestment of these non-core assets.

“With the divestment of AIX's interests in the Port of Portland, AIX has successfully completed the divestment of its non-core assets for appropriate value and on appropriate terms,” said Jeff Pollock, ceo of AIX.

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