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posted on:
October
20
2016

Aussie-only Ausgrid sale

 

Source: AFR, 21 Oct 2016


NSW Premier Mike Baird was smart to completely avoid the opaque Foreign Investment Review Board and lock up an all-Australian purchase of Ausgrid for $16.2 billion in a deal that will be sealed before Christmas.


There are few, if any, jurisdictions in the world that could boast the sort of rapid fire execution of a deal of this scale involving both the government and the private sector.


Baird has gone from an embarrassing setback in the middle of August, which was caused by the ham-fisted actions of FIRB and federal Treasurer Scott Morrison, to a successful outcome nine weeks later.


The Ausgrid deal is a shining example of the government and two mammoth private sector savings vehicles combining to provide funds for recycling into new infrastructure to create jobs and boost productivity.


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