A consortium consisting of NH Investment & Securities Co. and KDB Infrastructure Investments Asset Management has emerged as the preferred bidder for A$400 million ($287 million) in infrastructure assets in Australia and New Zealand, The Korea Economic Daily reports.
The consortium bested a rival bid from South Korean brokerage firm Hana Financial Investment Co., Korean Teachers’ Credit Union, and Seoul-based Pine Tree Investment & Management Co.
The assets, held by Morrison & Co.’s Public Infrastructure Partnership Fund, consist of schools, prison facilities, residence halls and convention centers in Australia and New Zealand.
The majority of the assets are let to central and provincial governments with remaining lease terms of 25 to 34 years.
