The deal will see the Lazard-advised sovereign wealth fund pick up a 19.8 per cent stake.
Street Talk understands the $272 billion Future Fund signed on the dotted line for a minority interest in Victoria’s largest tollroad network late last week.The deal will see the Lazard Australia-advised sovereign wealth fund pick up a 19.8 per cent stake from sellers NZ Super and Teachers Insurance Annuity of America’s Nuveen. It is understood that while there are no FIRB or ACCC approvals required, a process for parties with pre-emptive rights will play out in coming months.
A 55.45 per cent stake had been put up for sale.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.
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