Lead adviser appointed to Fremantle Port sale

  • Rothschild/Deloitte has been appointed lead financial adviser for the Fremantle Port sale which subsumes the proposed sale of Kwinana Bulk Terminal
  • The lead financial adviser was originally appointed in December 2014 for the proposed sale of Kwinana Bulk Terminal and Utah Point Bulk Handling Facility

25 June: Treasurer Mike Nahan today announced that Rothschild and Deloitte have been appointed as joint lead financial adviser for the sale of Fremantle Port.

 

As part of the 2015-16 Budget, the State Government announced the potential divestment of Fremantle Port as part of the Government's structured asset sales program.  This announcement subsumes the original decision to divest Kwinana Bulk Terminal as a stand-alone asset and now incorporates it as part of the wider sale of Fremantle Port.

 

Treasurer Mike Nahan said the decision to continue the Rothschild and Deloitte partnership was made following a detailed value-for-money assessment to confirm whether it was in the State's best interest to expand the scope of the existing lead financial adviser or re-tender the whole of port divestment.

 

"Following due consideration of the capability offered by the existing lead financial adviser and relevant legal, time and cost implications, appointment of Rothschild and Deloitte for the proposed Fremantle Port divestment is clearly the best option for the State," Dr Nahan said.

 

The Treasurer said the sale of significant infrastructure and business assets was a complex process requiring extensive and wide-ranging expert analysis.

 

"The Government is confident this joint partnership will continue to provide the best outcomes for the State," Dr Nahan said.

 

Over the coming months, the State Government will be continuing its detailed due diligence process with the lead financial adviser expected to provide a detailed recommendations report in December.

 

Given the Government's significantly expanded asset sales program, further tender requests for lead advisers as well as supporting specialist advisers will be released in due course, to assist the State Government with the other assets sales under consideration.


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