Alternative investment firm Stonepeak and Australian industry super fund Spirit Super have acquired GeelongPort, Victoria’s second-largest port and a significant driver of the state’s economy.
Stonepeak will hold a majority 70 per cent interest in the entity, while Spirit Super will have a 30 per cent stake.
The acquisition is expected to be finalised towards the end of the first quarter of 2023, subject to customary regulatory approvals.
The transaction is expected to close towards the end of the first quarter of 2023, subject to customary regulatory approvals.
GeelongPort is a diversified landlord port and a major driver of Victoria’s economy, managing over A$7 billion of trade and supporting more than 1,800 jobs across the state.
The Consortium were advised by Gresham Partners acting as financial adviser, King & Wood Mallesons as legal adviser, and Clayton Utz as tax adviser.