Market responds well to asset sales news

Potential bidders have shown a keen interest in the asset sales process with an unprecedented level of enquiries from people looking for information about the assets.

  • Unprecedented response from the market to the Government's announcement on the first tranche of asset sales

  • Release of tender request for the lead financial adviser for port asset sales

Potential bidders have shown a keen interest in the asset sales process with an unprecedented level of enquiries from people looking for information about the assets.

In late August, Premier Colin Barnett and Treasurer Mike Nahan announced the Government's first tranche of asset sales, including Port Hedland's Utah Point Bulk Handling Terminal, the Kwinana Bulk Terminal and Market City in Canning Vale.

The Premier said he was very pleased to see the high level of interest.

"This is an extremely positive response, reinforcing the Government's decision to commence due diligence on the first tranche of assets and provides an encouraging sign that there will be competitive bidding once sales processes begin," Mr Barnett said.

Dr Nahan said Treasury had today released an open tender for the engagement of the lead financial adviser for the announced port assets (Kwinana Bulk Terminal and Utah Point Bulk Handling Facility) to support activities to progress detailed scoping and due diligence.

The Treasurer said the due diligence phase would confirm all details about the potential sale and involved defining the precise boundaries of the proposed transactions, including the resolution of any key outstanding government policy decisions.

Dr Nahan said he anticipated that Treasury would separately approach the market for a lead adviser later this month for the sale of the Perth Market Authority (Market City).

Expressions of interest for the announced asset sales are expected to be sought in 2015, after the completion of detailed due diligence.

       Fact File

  • Enquiries on the asset sales process from interested parties should be directed to assetsales@treasury.wa.gov.au

  • Treasury is responsible for delivering asset sales on behalf of the State, with an Asset Sales Unit in the Strategic Projects and Asset Sales division, which will work with agencies across government to progress the sales

Premier's office - 6552 5000

Treasurer's office - 6552 5700