Sale of Port of Melbourne seen drawing 3 bidders

Sydney

THREE of Australia's largest infrastructure funds plan to bid for the country's largest container terminal in a sale expected to fetch about A$5 billion (S$5.5 billion) for Victoria state, a source with knowledge of the process said on Wednesday.

The prospect of three bidders suggests Victoria, Australia's second most populous state, will reap a hefty price for the asset and encourage other Australian states looking to sell a combined A$130 billion of assets in the next 18 months.