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

  • Allison is introducing new transmission technologies
    March 15, 2013
    Allison aims to retain its strong position in the transmission market with its latest array of products. Key machines featuring Allison transmissions will include equipment from Astra, Hino, Mercedes, Randon and Perlini. The Mercedes Zetros 1833 is a novel 4x4 underground mining tractor, while Bell is showing its new B25E and B30E articulated dump trucks, all of which are equipped with the latest Allison 3000 Series fully automatic transmissions. Rigid truck transmissions from Allison will be fitted to the
    Read More
  • Bentley Systems calls for submissions to 2016 Be Inspired Awards
    June 2, 2016
    Bentley Systems, a global provider of software solutions for advancing infrastructure, has announced a call for submissions to the 2016 Be Inspired Awards programme. The deadline for entries is June 10, 2016. The awards, which are selected by independent juries of industry experts, recognise the extraordinary work of organisations that help advance the world’s infrastructure by designing, engineering, constructing, delivering, and/or operating safer, more resilient, sustainable, and intelligent roads,
    Read More
  • Show of Strength for Asphaltica-Samoter 2014
    May 14, 2014
    This year’s 50th anniversary of the first edition of Samoter in Verona, Italy, could mark the start of a construction equipment sales’ renaissance for a nation with a rich construction equipment manufacturing heritage. Guy Woodford reports It’s been a tough few years for the Italian construction equipment manufacturing industry. A difficult domestic and wider European sales market coupled with a challenging European economic climate has created something of a perfect storm. But many Italian and other Eur
    Read More
  • Caterpillar bullish despite tough trading conditions
    January 6, 2017
    Caterpillar is performing well despite difficult market conditions in Europe, according to chairman and CEO Doug Oberhelman. The German market is a core operation for the firm. “This is an important market for us. Germany is a competitive market where customers have high expectations,” he said.“At the moment we’ve got a challenging market around the world for our customers and dealers. Businesses face challenges, particularly here in Europe. Emerging nations are seeing faster growth but they also have chall
    Read More

Highlighted Content