A consortium comprising equal representation of IFM Investors and AustralianSuper submitted to the NSW State Government (“Government”) an unsolicited proposal to acquire a 50.4% interest in a 99-year lease of Ausgrid.
The Government is reviewing the proposal and will make a decision later in the year.
This all-Australian proposal from IFM Investors and AustralianSuper is unique and represents excellent value for the NSW Government.
“AustralianSuper and IFM Investors are pleased to jointly submit this unique proposal and, if we are ultimately successful, intend to manage the asset in a responsible, considered manner over the long term,” said Ian Silk, Chief Executive of AustralianSuper and Brett Himbury, Chief Executive, IFM Investors.
Details of the proposal remain confidential.
Ausgrid is a high-quality core infrastructure asset that has been in operation for over 100 years. It operates one of the leading electricity networks in Australia, distributing electricity to the Sydney, Central Coast and Hunter regions of New South Wales across a 22,275 square kilometre area.
IFM Investors and AustralianSuper represent a total of five million working Australians.
IFM Investors is owned by 29 Australian superannuation funds and manages over $72 billion across infrastructure, listed equities, debt investments and private capital. Over the last 20 years it has invested in a range of infrastructure sectors including airports, seaports, toll roads and electricity generation, where it works closely with co-shareholders in these assets. IFM Investors has significant infrastructure investments in New South Wales, including NSW Ports, Interlink Roads, Axiom education and the Eastern Distributor.
AustralianSuper manages more than $100 billion of members’ assets on behalf of more than two million members from across 220,000 businesses. One in 6 working Australians is a member of AustralianSuper the nation’s largest super fund.Contacts:
0414 867 188
Head of External Relations
0407 507 415