It’s a big moment for Stonepeak in Australia having kicked tyres on a handful of assets in the past couple of years in a bid to strike its first local investment.
How better to announce yourself to the Australian investment community than doing a Bradbury to secure a maiden $1 billion deal?
Palisade forged ahead with a pair of deep-pocketed local funds in tow, and won the auction with a $1.2 billion bid signed over the Christmas/New Year break 16 months ago. However,In swooped Stonepeak, a fast-growing American firm run by a bunch of former Macquarie Group operatives that had come to Asia Pacific to find more investments and raise more capital from the $3.4 trillion domestic superannuation market.
So Stonepeak, still seeking its first Australian investment, cut a deal to buy the consortium’s diligence and went to owners Brookfield and State Super with a pitch to keep the sale alive.It asked for a short period of due diligence to confirm and update the Palisade consortium’s work, and said it could be in a position to sign a deal within weeks.
Port of Geelong is the sort of deal that was perhaps only possible for a newcomer in the market, and led by a spearhead in Keogh that was accustomed to brokering deals with multiple stakeholders to get a transaction over the line. “We see it as a very significant driver of economic activity, particularly in regional Victoria,” he said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Unpleasant tasks’: Governor-General reflects on Somalia deploymentThree decades after Australia took part in Operation Solace – a peacekeeping mission in Somalia – Governor-General David Hurley has reflected on the challenges he faced commanding the 1st Battalion. Mr Hurley faced “unpleasant tasks” as his Battalion was instructed to create a secure environment for NGOs to help them deliver food into contested regions. “We did test our doctrine and we found that although we had trained a lot in Australia and we were deployed long distances in Australia, we hadn’t really set ourselves up properly logistically to support an operation that distance away from Australia,” he told Sky News Australia. The Governor-General said the soldiers learned “a lot of lessons” in the ten-year period leading up to the East Timor deployment in 1999. “Many of the people who served in my battalion then, or in the other organisations that were in Somalia, were in senior positions by the time we went into Timor.”
Read more »
Dawn services held across Australia to honour AnzacsMore than 100 years since the Gallipoli landings, thousands have gathered at dawn services across the country to remember Anzac troops.
Read more »
China accuses Australia of ‘hyping up’ military threatA spokeswoman responded to the Strategic Defence Review, saying China’s military build-up is “defensive in nature” and poses no threat to others.
Read more »
Freedom and security in Australia should ‘never’ be taken ‘for granted’: AlbaneseAustralians should “never” take their freedom and security within the nation “for granted”, says Prime Minister Anthony Albanese. “We must acknowledge the truth that Aboriginal and Torres Strait Islander people who donned the khaki fought for more for Australia, than Australia was willing to fight for them,” Mr Albanese said during the Dawn Service in Canberra. “Yet we learn, and we keep taking steps forward together – Australians have gone overseas for us, they have gone because there is so much to fight for. “What we have created as Australians, and nurtured over generations is something we must never take for granted.”
Read more »
Australia’s missile range capability is ‘not going to help’ with current threatsAustralian Strategic Policy Institute Director Bec Shrimpton says our current missile striking range capability in our Defence Force is “not going to do very much” to protect the Australian land from long range threats. “It is not going to help us with the challenge that we face now,” Ms Shrimpton told Sky News Australia. “You cannot deter without credible combat forces. “We need to be able to strike further afield with greater precision and with much greater capability and we need to be able to do that as a very joined up and integrated force.”
Read more »
Thousands honour Anzacs with dawn services and marches across AustraliaThroughout the country, leaders reflected on the heavy cost of war as people gathered at dawn services to remember the lives broken and lost on battlefields across the world. This is how Australia paid its respects:
Read more »