2012 Media Releases

RREEF Infrastructure, the global infrastructure investment management business of Deutsche Bank Group, today announced it has entered into an agreement to acquire a further 15% interest in the Port of Geelong from the Australian Infrastructure Fund (“AIX”).

As part of the same transaction, Asciano will also acquire a 20% interest in the port and will continue as the port’s operator.  

The acquisition is being made on behalf of one of RREEF Infrastructure’s major Australian institutional clients and increases the equity interest managed by RREEF Infrastructure in Port of Geelong to 50%. The acquisition is expected to be completed by 29 February 2012 and is not conditional. 
Port of Geelong is the largest regional Port in Victoria and handles a broad range of bulk commodities including crude oil and petroleum, woodchips, steel, fertiliser, chemicals and alumina.

Richard Hedley, Portfolio Manager and Head of Asset Management, RREEF Infrastructure said: “RREEF Infrastructure initially invested in Port of Geelong in 1996 when the port was privatised by the Victorian government. Since then, the investment has performed exceptionally well, delivering strong cash distributions and capital growth to our client.

“Delivering this transaction represents a tremendous amount of work from all of the parties involved and we are delighted to be extending our partnership with Asciano”.

The Port of Geelong deal follows RREEF’s recent acquisition of a 40% equity interest in Brisbane gas distribution business from APA Group.

For further information, please contact:

Deutsche Bank AG
Name: Michelle Chaperon
Phone: +61 2 8258 1311
Email: michelle.chaperon@db.com