Brisbane: The port of Brisbane has been sold for A$2.1bn to investment consortium Q Port Holdings. The consortium has signed a 99-year lease for the port, in a A$2.1bn cash deal, as well as commitment to invest A$200m in Port of Brisbane motorway. Q Port Holdings includes major stakeholders Global Infrastructure Partners (GIP), Industry Funds Management (IFM) and funds managed by QIC Limited (QIC), and a minority stake held by Tawreed Investments Ltd., a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). GIP, IF M and QIC each hold equal stakes of 27%. "Collectively the consortium has interests in port terminals across eight countries and it has the right credentials for owning and operating the port into the future," said Andrew Fraser state treasurer. [11/11/10]
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