Australia’s State Super pension fund is planning to dispose of its share of GeelongPort in Melbourne, people with knowledge of the matter told Bloomberg.
The deal is part of a sale process with fellow owner Brookfield Asset Management, and it makes full control of the port available for purchase.
GeelongPort, Victoria’s second-largest port, manages more than $7 billion of trade, and handles more than 11 million tonnes of product annually across a broad range of industry segments, including crude oil, wood-chip, fertilizer and break bulk cargo. The port comprises 15 berths across two primary precincts, Corio Quay and Lascelles.
The sellers will start accepting bids as soon as next week, and they aim to sign a deal by December, at the earliest.
