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Melbourne's big port sell-off

AAP logoAAP 19/09/2016

MELBOURNE'S BIG PORT SELL-OFF

THE PRICE: $9.7 billion

THE KICKER: $1.4 billion from federal asset recycling scheme

THE DEAL: 50-year lease of the Port of Melbourne

THE ESTIMATE: Originally booked at $5 billion, the government expected $7 billion

THE BUYERS: The Lonsdale Consortium, made up of the Future Fund, QIC, GIP and OMERS

THE CLAUSE: Compensation payable if competing state-funded port starts construction within 15 years

THE REGIONS: 10 per cent of the sale price goes to rural and regional transport infrastructure

THE LEGISLATION: The opposition fought a hard battle to amend the government's original sale deal to reduce the length of time compensation was available

THE SALE: Commercial close is due on October 31.

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