Australia: Bidders shortlisted for RiverCity's Clem Jones Tunnel

In Australia, UBS Infrastructure Fund, Access Capital and Queensland Motorways are reported as heading the bidders' shortlist for the Clem Jones Tunnel of RiverCity. RiverCity's receiver KordaMentha and sell-side adviser Goldman Sachs have ushered through several shortlisted bidders through to the second round. The Clem Jones Tunnel was secured against RiverCity's debt pile of US$1.37 billion (AUD 1.50bn). It is thought that the road may be sold for around $550.3 million (AUD 600mn). Clem Jones Tunnel is sa
July 11, 2013 Read time: 1 min
In Australia, UBS Infrastructure Fund, Access Capital and Queensland Motorways are reported as heading the bidders' shortlist for the Clem Jones Tunnel of RiverCity.

RiverCity's receiver KordaMentha and sell-side adviser 3347 Goldman Sachs have ushered through several shortlisted bidders through to the second round. The Clem Jones Tunnel was secured against RiverCity's debt pile of US$1.37 billion (AUD 1.50bn). It is thought that the road may be sold for around $550.3 million (AUD 600mn). Clem Jones Tunnel is said to have around 29,000 to 30,000 users per day, and is now controlled by RiverCity's lenders. Formal due diligence for the road will start in the upcoming weeks, with binding offers due in September 2013.
Road Structures

For more information on companies in this article

Related Content

  • Rich pickings at Ritchie Bros auctions until end of year
    October 30, 2014
    A delayed mine expansion project has pushed thousands of new and used equipment onto the market to be sold by global auctioneers Ritchie Brothers by the end of the year. Steve Simpson, chief sales officer for Ritchie Bros., based in Vancouver, western Canada, said the company aims to sell more than 30,000 items at over 50 unreserved auctions around the world. Highlights include more than 950 compactors, over 800 excavators, as well as several hundred wheel loaders, crawler tractors, loader backhoes an
    Read More
  • State-of-the art road tunnels in construction and use of ITS
    April 25, 2013
    A wealth of major road tunnel construction projects and significant cant ITS installations within existing key road tunnels have been recently completed or will soon be underway. Guy Woodford examines some of them. A state-of-the art Tunnel Boring Machine (TBM) - the 10th largest ever to be built worldwide will be put to work later this year on New Zealand Transport Agency’s landmark Waterview Connection project in Auckland. The giant Herrenknecht-manufactured machine will be used to construct the twin 2.5
    Read More
  • IronPlanet celebrates 14 years of online auctions
    March 28, 2014
    IronPlanet, the leading online marketplace for buying and selling used heavy equipment, is this week celebrating the 14th anniversary of its first auction. “We’re excited to celebrate 14 years of growth since our first online auction,” said Greg Owens, CEO, IronPlanet. “We have attracted more than one million registered users around the globe and sold more than US$3.5 billion of equipment over the Internet. Our success is based on our customers’ recognition that IronPlanet offers the industry’s most eff
    Read More
  • Montenegro on the ropes over China deal
    April 13, 2021
    The first 41km of highway cost €20 million per kilometre - one of the most expensive highways in the world.
    Read More

Highlighted Content