if the spencer street redevelopment is anything to go by then its 'sure bet' we'll see more national hire(NHR) and caterpillar equipment at the mitcham /frankston freeway which all goes well for the bottom line NPAT and eps of NHR
LEI have been big users of NHR,BOL,Allight(part owned by kerry Stokes)and western access equipment @ the spencer st redevelopment
A consortium, which includes Macquarie Bank Limited (MBL) and Leighton Holdings Limited (LEI) were today announced victors in the bid for the construction of the $2.5 billion Mitcham-Frankston freeway project. The ConnectEast Pty Ltd consortium was named by the Victorian government as preferred tenderer to design, construct, finance, operate and maintain the Mitcham-Frankston freeway.
The full consortium comprises Macquarie Bank, Leighton Holdings subsidiary Thiess, Leighton's subsidiary John Holland, Hyder Consulting and Alstom Australia.
"This is Australia's largest urban road project and offers the people of Melbourne's eastern and south-eastern regions a fully integrated transport solution," Victorian premier Steve Bracks announced.
The Mitcham - Frankston project will be a new 39 kilometre, electronic, multi-lane, free flow toll road from the Eastern freeway in the eastern suburbs of Melbourne to the Frankston Freeway in Melbourne’s south-east.
The Project will be designed and constructed by Thiess and John Holland.
Macquarie is arranger to the IPO and joint lead manager with ABN AMRO Rothschild and CommSec. The joint lead managers have fully underwritten the IPO.
The consortium advised that the institutional tranche of the IPO has already been completed and oversubscribed, with a group of Australian and international institutional investors.
Macquarie advised that they will also investing $30 million in stapled units in ConnectEast Group on a deferred subscription basis and a wholly owned Macquarie subsidiary, ConnectEast Management Limited, will be the responsible entity of several ConnectEast trusts.
The bid beat that of rival Mitcham-Frankston Motorway Consortium, which included Melbourne's CityLink operator Transurban Group (TCL) as a sponsor.
NHR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
