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

  • CTE’s European lift off
    January 6, 2017
    Since signing an exclusive licensing agreement with Genie Industries in 1987, CTE has become one of the largest European groups in the field of lifting and movement of materials. Founded in 1981, the company now has a commercial presence covering all five world continents.
    Read More
  • CTE’s European lift off
    March 27, 2013
    Since signing an exclusive licensing agreement with Genie Industries in 1987, CTE has become one of the largest European groups in the field of lifting and movement of materials. Founded in 1981, the company now has a commercial presence covering all five world continents.
    Read More
  • Marini’s eTOWER 2500 of strength
    April 8, 2013
    Marini’s new eTOWER 2500 asphalt plant on show at bauma 2013 is capable of producing 200tonnes/hour of asphalt. Details of the full Fayat-owned Marini brand range will also be available at the world’s biggest construction equipment show in the Fayat Group’s ‘Asphalt Pavilion’. The Pavilion, which will include touchscreen and videowall presentations, will include a special focus on Marini mobile and warm mix asphalt lines.
    Read More
  • Boral and Global Ecofuel enter the biofuel and bitumen arena
    May 9, 2019
    An Australian government agency has awarded around US$350,000 to two companies to investigate the production of bitumen and diesel from wood waste. If successful, Australia’s state of New South Wales could become home to the world’s first biorefinery turning sawmill residues into renewable bitumen and diesel, according to ARENA - the Australian Renewable Energy Agency. Under the $842,000 million study, Boral Timber, a major supplier of hardwood and softwood in Australia, will explore the technical and
    Read More

Highlighted Content