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Pension funds bid for stake in Sydney road project: sources

Published Mon, Feb 26, 2018 · 09:50 PM
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Sydney

AT least two Australian pension funds and one Canadian fund are participating in competing groups bidding for a majority stake in one of Australia's largest infrastructure projects, people with knowledge of the sale told Reuters.

Australia's New South Wales government is trying to sell a 51 per cent stake in Sydney Motorway Corporation (SMC), the company building the A$16.8 billion (S$17.4 billion) WestConnex project, which links Sydney's centre with its fast-growing western suburbs. Preliminary bids for a 51 p…

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