When and how they will be sold
Scoping studies are currently underway to determine the most appropriate sale structure and timing of sale for each business. This exercise will help maximise returns to the Government and ensure the sale structure positions the businesses for future success.
Sale structures may vary for each business. Sale options being considered are trade sales, long-term leases or initial public offerings (an IPO is sometimes called a public float).
The Government anticipates the scoping studies for all five businesses will be completed in December 2009.
Following a decision by the Government on the sale structure, each business will be prepared for sale and placed on the market.
A more definitive sale timeline will be available when the scoping studies and sale structures are finalised.
Expert commercial advisors
To assist with the sales process, the Government has appointed world-leading commercial and specialist advisors.
A consortium comprising Rothschild, Merrill Lynch and Royal Bank of Scotland is working closely with Queensland Treasury and each business being sold to review their structure, operations and financials.
O’Connor Marsden will advise the Government on probity matters to ensure the integrity of the sale process.
Four specialist legal advisors have been appointed to look after each of the businesses:
- Freehills will advise on the Forestry Plantations Queensland sale
- Minter Ellison will advise on the Port of Brisbane sale
- Clayton Utz will advise on the Queensland Motorways Limited sale
- Allens Arthur Robinson will advise on Queensland Rail and Abbot Point Coal Terminal.
The Government has also appointed three specialist accountancy and taxation advisors:
- KPMG will advise on Queensland Rail, Abbot Point Coal Terminal and Forestry Plantations Queensland
- Ernst and Young will advise on the Queensland Motorways Limited sale
- Deloitte will advise on the Port of Brisbane sale.
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