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

  • VIDEO: Concrete paving - you’ve come a long way, baby!
    July 14, 2016
    It’s 1948. The grand scheme of creating an Interstate Highway system in the US is still barely a twinkle in President Dwight Eisenhower’s military eye. Highway construction improved greatly in the late 1950s and early 1960s as the American contractors became more mechanized and therefore efficient at laying roads faster and of better quality. But how did they build a road back then in 1948? Thanks to Encyclopaedia Britannica Films, we have a movie of just how a concrete highway was created. The constr
    Read More
  • Michelin and IRF partner up to provide road statistics
    December 13, 2013
    Michelin has partnered with IRF to mark the global launch of the 50th Anniversary edition of the World Road Statistics. The World Road Statistics (WRS) have now been published every year since 1964. To mark this half-century of achievement, IRF has released a commemorative 50th Anniversary edition that compiles 12 years of data to provide a comprehensive statistical review of the evolution of international road and land transport from the dawn of the Millennium to the present day.
    Read More
  • Shantui and Manitowoc agree joint venture to manufacture cranes in China
    January 6, 2017
    Manitowoc Cranes and Shantui Investment intend to form a new joint venture. This will build mobile cranes in China for both domestic and export markets. The name of the joint venture will be Shantui Manitowoc Crane Company, and it will commence operations once all relevant approvals are received. Within China, the cranes produced by the joint venture will be sold through Shantui’s vast domestic dealer network, in addition to Manitowoc’s own dealer network for truck cranes. The joint venture and this distrib
    Read More
  • Shantui and Manitowoc agree joint venture to manufacture cranes in China
    January 28, 2013
    Manitowoc Cranes and Shantui Investment intend to form a new joint venture. This will build mobile cranes in China for both domestic and export markets. The name of the joint venture will be Shantui Manitowoc Crane Company, and it will commence operations once all relevant approvals are received. Within China, the cranes produced by the joint venture will be sold through Shantui’s vast domestic dealer network, in addition to Manitowoc’s own dealer network for truck cranes. The joint venture and this distrib
    Read More

Highlighted Content