Investors hungry for Australian assets

Article Abstract:

The Victorian government ahs sold gas transmission and retail companies Kinetik Energy/Westar to Texas Utilities for A$1.617bn (US$1bn) and plans to sell two other gas companies- Ikon Energy/Multinet and Energy 21/Stratus- in March. The sale proves investor interest is still there. The government also plans to open bidding for Transmission Pipelines Australia, Melbourne Trains & Trams, and Australian Defence Industries (ADI) . Mainly due to funds from privatization, the Victorian government has cut the state debt from US $20.9bn to US $6.5bn since 1992. It is expected to have raised over US $15.7bn from its privatization programme with the sales of the gas distribution companies.

Comment:

The Victorian govt sold gas co.'s Kinetik Energy/Westar to Texas Utilities for A$1.617bn & will sell 2 others in March

Organizational history, Economic Programs, Administration of Economic Programs, Natural Gas Distribution, Gas transmission and distribution, Gas Transmissn & Distributn, Securities, Gas industry, Gas transmission industry

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Reforming Victoria's public transport system

Article Abstract:

Victoria, Australia plans to privatize its transportation infrastructure. The plan will help spur innovation, improve value, and lead to new incentives and new investments. The privatization plan will also help create new rights for passengers, including rights involving issues such as fares, safety, ticketing, customer service, compensation, overcrowding, information and accessibility.

Asset sales & divestitures, Transportation Programs, Management, Transportation policy, Local transit

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Highway 407 sold for twice initial investment

Article Abstract:

Canada sold Highway 407 for $2.1 billion, the largest Canadian privatization to take place. This road is the first electronic toll road and was sold to Grupo Ferrovial, Cintra Concesiones de Infraestructuras de Transporte, Capital d'Amerique CDPQ and SNC Lavalin-Group. The transaction will be completed in May 1999.

Canada, Government regulation (cont), Ground Transport Programs NEC, Mergers, acquisitions and divestments, Ground transportation, SNC-Lavalin Group Inc.

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