Macquarie-Led Group Agrees $5.4 Billion Deal to Run Roads Unit [Business News Network (BNN) (Canada)]
Brookfield Asset Management Inc Class A Limited Voting Shares (BAM)
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Source: Business News Network
The investment arm of the Australian bank, together with pension funds Australian Retirement Trust and Aware Super, has signed a 40-year concession for VicRoads, the southern state of Victoria's roads customer service unit, the state premier's office announced Friday. The business maintains registers of more than five million drivers, the premier's office said. The group had been vying to prevail in an auction run by the state that had also included a pairing of Brookfield Asset Management and Morrison & Co as well as a third group, infrastructure investor Plenary Group and UK government services contractor Serco Group Plc. The deal adds to a wave of infrastructure acquisitions by Australia's ballooning and increasingly private-investment-minded pension industry. It also adds to Macquarie's control of state governments services Down Under after it paid A$1.6 billion along with Canada's Public Sector Pension Investment Board in 2017 for a 40-year contract for the rights to run S
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