Stage 1 — Pending
Deal Structuring & Market Sounding
Initial process by government/grantor or private owner of shares to structure the transaction and/or sounding potential market interest in the opportunity.
airport deal
Operator // Hobart International Airport Pty. Ltd. (HIA)
In Jun. 1998, HBA was privatised under a 99-year lease to HIA, a Tasmanian gov’t owned company operated by the Hobart Ports Corporation. Macqaurie and Retirement Benefit Fund (RBF) acquired majority interest in HIA in 2007 for AUS350m. Macquarie’s majority position provides for management rights and three of six seats on the board of directors. In mid-Mar 2019, Macquarie engaged Credit Suisse as sell-sde advisors to facilitate the planned disposal of its 50.1% stake in HIA. Australia’s “light-handed” regulation, which facilitates EBITDA margins upwards of 80%, make HBA an attractive investment target. Macqaurie is said to be seeking a minumum of of USD500m for its stake. Bidders reported to be pursuning the transaction include; Schiphol Airport (advised by Lazard), Vinci (advised by Rothchild), QIC (advised by UBS), UniSuper, IFM, Morrison and, potentially, HESTA, Cbus, with AMP Capital rumoured to be out of contention
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Deal transaction stage will no longer be updated when a deal has been marked as archived.
Initial process by government/grantor or private owner of shares to structure the transaction and/or sounding potential market interest in the opportunity.
Investor/operator evaluation for the deal/opportunity and/or business case and financial model development to support commercial bid/offer.
Award of deal by government/grantor, or acceptance of offer from private owner of shares, followed by completion of financing conditions and, ultimately, granting of concession and/or transfer of shares.
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