Friday, 27 September 2013

This agreement will see Queensland Motorways acquire Brisbane’s CLEM7 Tunnel for $618 million1.

The 6.8km tolled motorway links major Brisbane roads, including the Pacific Motorway, Ipswich Road, Lutwyche Road, Inner City Bypass, AirportlinkM7 and Shafston Avenue at Kangaroo Point. 

KordaMentha receivers, Martin Madden and Cassandra Mathews, confirmed an agreement has been reached with Queensland Motorways.

Martin Madden said: “KordaMentha and Goldman Sachs conducted a thorough sale process and we are pleased with the competitive response from the market”.

Queensland Motorways and KordaMentha will now commence a consent process with the Brisbane City Council. Completion of the sale process is expected to take place within the next three to four months.

KordaMentha media enquiries: Mike Smith: +61 (3) 9440 9387

1. Includes taxes.