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Port of Brisbane Sold

Published Jan 27, 2011 9:17 AM by The Maritime Executive

Statement from Jeff Coleman, Chief Executive Officer on the Sale of the Port of Brisbane Pty Ltd:

The Queensland Government yesterday announced that the documents were signed for the 99-year lease of the Port of Brisbane Pty Ltd to the Q Port Holdings Consortium.

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).

Since the Queensland Government first announced the sale of the port in June 2009, we have been working through a comprehensive and challenging process to prepare the business for sale.

Our employees and our business performed extremely well throughout the entire period, and we have demonstrated the strength and diversity of our business, and the value this provides as a long term investment.

And, despite the demands of the sale process, we have not lost our focus on the efficient operation of our growing port, and we have pressed ahead with significant new infrastructure projects.

I have every confidence that a positive future lies ahead under private ownership, and we are looking forward to building relationships with our new shareholders.

The Port of Brisbane