It is understood that by buying the stake, it would double IFM’s shareholding in the port to 53.4%.
Apparently, IFM Global Infrastructure Partners and fund manager, QIC, bought their 26.7% stakes in the Port of Brisbane for around AUS$575m in 2010.
The Queensland government sold a 99-year lease in the port, which now has 29 operating berths with more than 7200m of quay line, and upriver facilities for AUS$2.3bn in 2010.
IFM is said to have already made an offer, but told Port Strategy it is not commenting on the matter.
Canada’s Borealis Infrastructure is also thought to have made a bid.
If Global Infrastructure receives the expected AUS$900m for its take in the port, the total value of the asset is said to be AUS$3.37bn, around a 47% increase over its sale price three years ago.
Investing in Australia’s third largest container port would add to the company’s existing investments in ports, airports, renewable energy, and social infrastructure.