BrisConnections puts its AirportlinkM7 toll road up for sale

Bankrupt Australian highway management firm BrisConnections is selling its 6.7km AirportlinkM7 toll road in Brisbane three years after the highway opened, according to a report by the Financial Review. Macquarie Capital and Fort Street are acting as financial advisers and PBB Advisory is the receiver. Transurban, which paid A$7.05 billion for Brisbane's five other toll roads last year, is seen as the likeliest buyer, with indicative bidding starting early this month for closure of a deal early next year, ac
September 1, 2015 Read time: 2 mins

Bankrupt Australian highway management firm 2641 BrisConnections is selling its 6.7km AirportlinkM7 toll road in Brisbane three years after the highway opened, according to a report by the Financial Review.

2378 Macquarie Capital and Fort Street are acting as financial advisers and PBB Advisory is the receiver. 891 Transurban, which paid A$7.05 billion for Brisbane's five other toll roads last year, is seen as the likeliest buyer, with indicative bidding starting early this month for closure of a deal early next year, according to the Review’s report.

BrisConnect, which went into receivership February 2013 with A$3 billion in debt, suffered when the number of toll-paying users for the Airport Link were less than half the predicted numbers.

Last April the Review reported that BrisConnections’s largest lender, Macquarie Group, did a volte face and gave the nod to auctioning off the road. Macquarie owns just over one-third of BrisConnections’s A$3.6 billion debt. Other lenders include ANZ Banking Group, Belgium's KBC, United Overseas Bank and UniCredit Group.

Other toll road owners and operators that could be interested include IFM Investors, Spain's Abertis Infraestructuras and Hastings Funds Management, the Review reported.

World Highways published a full review of the design and construction of the controversial asset in April 2013 and is viewable by %$Linker: 2 Internal <?xml version="1.0" encoding="utf-16"?><dictionary /> 2 12655 0 oLinkExternal clicking here Click here view Airport engineering success false /sections/key-projects/features/brisbanes-new-airport-link-is-an-engineering-success/ false false%>.

Finance & Funding

For more information on companies in this article

Related Content

  • Productive shredding of materials for recycling from the ZB Group
    March 15, 2013
    The powerful THOR 1721K from the ZB Group in Spain offers high production shredding of materials for recycling purposes. This sophisticated, self-propelled, heavy duty, mobile hammer shredder unit is a high performance, autonomous machine that can shred and recycle ferrous and non-ferrous materials, reinforced concrete, and some other materials also.
    Read More
  • bauma presents a new traffic concept
    January 6, 2017
    Anybody who knows bauma, will also know how busy it can get on the way to and from the show, both on the roads and on public transportation. So, to make travel as easy as possible for the exhibitors and visitors to this, the world´s biggest trade show, Messe München has developed a new traffic concept, featuring remote parking areas. From the airport to bauma The airport shuttle is a non-stop bus service taking participants straight from the international airport at Munich (stopping at Terminal 1 and Termin
    Read More
  • bauma presents a new traffic concept
    March 12, 2013
    Anybody who knows bauma, will also know how busy it can get on the way to and from the show, both on the roads and on public transportation. So, to make travel as easy as possible for the exhibitors and visitors to this, the world´s biggest trade show, Messe München has developed a new traffic concept, featuring remote parking areas. From the airport to bauma The airport shuttle is a non-stop bus service taking participants straight from the international airport at Munich (stopping at Terminal 1 and Termin
    Read More
  • ARTBA launching student video competition for 2015
    February 18, 2015
    The American Road & Transportation Builders Association (ARTBA) is running its annual student video competition. This is set up to challenge students of all ages to produce a two-to-four minute video about America’s transportation infrastructure. World Highways continues to support this competition and has also posted links to those videos from past winners and runners up on its websites in previous years. The ARTBA Student Video Competition is now in its fifth year. The aim of the competition is to raise a
    Read More

Highlighted Content