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Melbourne port sold for higher-than-expected A$9.7b

Tuesday, September 20, 2016 - 05:50
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Government-owned China Investment Corp will own a fifth of Port of Melbourne, as will Australia's sovereign wealth fund, The Future Fund, and Canada's Ontario Municipal Employees Retirement System.

Sydney

CHINESE and Australian sovereign wealth funds, along with other investors, on Monday said they will take Australia's busiest port private for a higher-than-expected A$9.7 billion (S$9.98 billion), a sign that tough equity markets are fuelling appetite for infrastructure.

The

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