OPTrust, REST Said to Weigh Bids for Australia’s ANZ TerminalsBrett Foley
Canada’s OPSEU Pension Trust and Australia’s Retail Employees Superannuation Trust are among companies weighing bids for Australian import terminals that may fetch as much as A$500 million ($462 million), according to people with knowledge of the matter.
Macquarie Group Ltd. is also considering an offer for ANZ Terminals together with closely-held German company Oiltanking GmbH, said the people, asking not to be identified as the details are private. New Zealand-based investor Infratil Ltd. has decided not to bid, another person said.
ANZ Terminals is owned by Connecticut-based investor Morningside Private Investors, according to its website. The company, which operates liquids and gas storage terminals in cities including Sydney, Melbourne, Adelaide and Geelong, is being advised by UBS AG on the sale, the people said.
LBC Tank Terminals, a Belgium-based operator part-owned by Dutch and Australian pension funds, considered a bid for the business and decided not to proceed as it did not “fit our strategy,” spokeswoman Tara Manser said by e-mail.
Navleen Prasad, a spokeswoman for Macquarie, declined to comment, as did Nathan Burman, an external spokesman for REST. Spokesmen for ANZ Terminals in Melbourne and OPTrust in Ontario didn’t immediately respond to calls and e-mails seeking comment.
OPTrust, as the Toronto-based investment manager is called, has offices in Sydney and London, oversees about $14.7 billion of assets and has about 84,000 members, according to its website. REST, as the Australian pension trust is known, has 1.9 million members and about A$25 billion of funds under management, according to its website.
Macquarie Capital agreed in August to buy 45 percent of Singapore’s Helios Terminal Corp. from Oiltanking for an undisclosed sum, the German company said Aug. 12.
The Australian investment bank also bid alongside Glencore Xstrata Plc for the Australian downstream assets of Royal Dutch Shell Plc, people familiar with the matter said Jan. 8. Those assets were sold to Vitol Group, the world’s biggest independent oil trader, for A$2.9 billion a month later.
Dutch pension funds APG Groep NV, PGGM NV and Australian superannuation funds bought a majority stake in LBC Terminals, which owns storage capacity in Europe, North America and China, last year from Australian fund manager Challenger Ltd. for $297.5 million.