It’s a great time to be alive if you are an investor with a chequebook big enough to buy an Aussie airport.
Street Talk can reveal that Queensland Airports Limited’s three institutional investors – State Super, ART and TIF – have run individual strategic reviews and decided to embark on a combined sale process.
All up, it’s about 40 per cent of QAL, whose passenger levels are understood to have recovered to pre-pandemic levels. Barrenjoey’s got the gig.
It’s core infrastructure and a rarely traded asset. But the question is whether there are pre-emption rights that could get in the way of an outsider joining the register; just ask Brisbane Airport.
Lastly, in two more Queensland-brewed deals, telco Pivotel is preparing to head out for an investor search and start-up Cartelux has secured early backing from QIC.
Happy reading,
Sarah Thompson, Kanika Sood and Emma Rapaport Street Talk Editors
It’s the fourth airport deal to cross Street Talk’s desk in the past two months – it looks like deep-pocketed infrastructure investors are spoilt for choice.
The British businessman owns 51 per cent of the ASX-listed pastoral empire. He is far from the only billionaire involved; the Forrests own 18 per cent.
Typical clients include remote farming operations, mining businesses, and oil and gas sites – basically, any work site cut off from traditional mobile coverage.
