Advisory services engaged for the Strongest and Smartest Choice

Published Friday, 29 August, 2014 at 02:45 PM

Treasurer and Minister for Trade
The Honourable Tim Nicholls

Following an advertised procurement process overseen by a probity auditor, the State Government has today engaged a number of specialist and strategic consultants to provide advisory services in relation to the proposed asset transaction program outlined in the Strongest and Smartest Choice campaign.

Treasurer Tim Nicholls said this was another part of the Government’s methodical, planned approach to ensure Queensland was receiving the best advice and value for money, should the program proceed.

“We have made it very clear that this Government is committed to not selling or leasing assets prior to receiving a mandate from the people of Queensland at the next election,” Mr Nicholls said.

“However, it’s essential to commence some preliminary due diligence activities to ensure any potential future action has these critical preparatory works in place.

“This disciplined process is yet another part of our Strongest and Smartest Choice draft plan to pay down debt and invest in a bright future for Queensland.”

The advisors are:

  • Independent Corporate Advisor
    • Grant Samuel

 

  • Lead and Commercial Advisors
    • Merrill Lynch and Macquarie Capital (Electricity Networks)
    • Macquarie Capital (Ports)
    • Lazard (Electricity Generation)
    • RBC Capital Markets (Sunwater)

 

  • Legal Advisors
    • Minter Ellison (Electricity Networks)
    • King and Wood Mallesons (Ports)
    • Herbert Smith Freehills (Electricity Generation)
    • Allens Linklaters (Sunwater)

 

  • Accounting and Tax Advisors
    • Ernst and Young (Electricity Networks)
    • PwC (Ports)
    • KPMG (Electricity Generation and Sunwater)

 

These advisors will start work immediately under the direction of Queensland Treasury Corporation (QTC).

Asset transactions require extensive investigation, planning and preparation of the asset prior to offering to the market.

QTC's request for proposals for advisory services closed on 6 August 2014, with over 110 proposals received from 49 organisations across all roles advertised.

[ENDS] 29 August 2014

Media Contact: Anna Hilton 0408 191 192