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.
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