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Melbourne port sold for higher-than-expected A$9.7b
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.
PHOTO: REUTERS
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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