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Wednesday, 15 July 1998
Page: 6235


Mr Cobb asked the Minister for Finance and Administration, upon notice, on 12 May 1998:

Will he provide details of all privatisations conducted by the federal Government including (a) the name of each entity, (b) the percentage of each entity sold, (c) the Ministers responsible for each sale, (d) the date of each privatisation, (e) the purchasers in each case and (f) the returns raised from the sale of each entity and in total.


Mr Fahey (Finance and Administration) —The answer to the honourable member's question is as follows:

NB: The response in the table below is based on those sales conducted by the Office of Asset Sales and IT Outsourcing and its predecessor organisations since the election of the present Government in March 1996.

(a) Name

(b) % Sold

(c) * Minister Responsible

(d) Date Sold

(e) Purchaser

(f) Sale Proceeds $m

Commonwealth Bank Secondary Public Share Offer and share buy back.

100 (Note 1)

Treasurer

July 1996

Public Share Offer

5,100

Commonwealth Funds Management (CFM) Ltd and Total Risk Management Pty Ltd (subsidiary of CFM)

100

Finance and Administration

December 1996

Commonwealth Bank Towers Perrin Forster and Crosby Inc

62.34

Avalon Airport Geelong Limited (AAG)

100

Defence

January 1997

Foxerco Pty Ltd.

1.5 (plus annual airfield lease payments)

Lease of Melbourne Airport

100

Transport and Regional Development

May 1997

Australian Pacific Airports Corporation

1,307

Lease of Brisbane Airport

100

Transport and Regional Development

May 1997

Brisbane Airport Corporation Ltd)

1,387

Lease of Perth Airport

100

Transport and Regional Development

May 1997

Airstralia Development Group

643

DASFLEET

100

Administrative Services

September 1997

Macquarie Fleet Leasing Pty Limited.

408

Australian National Railways Corporation (AN):

Transport and Regional Development

AN's South Australian intrastate freight and maintenance

100

October 1997

Genesee & Wyoming Inc (now Australia Southern Railroad)

57.4

AN's interstate passenger business

100

October 1997

Great Southern Railway

16

AN's Tasmanian freight business

100

November 1997

Australian Transport Network

22

AIDC Ltd

100

Industry, Science and Technology

September 1997

Consortium comprising Babcock & Brown and UBS Australia Ltd (a subsidiary of Union Bank of Switzerland)

155 plus defeasance of $3,200m of Commonwealth guaranteed debt

Department of Administrative Service Business Units:

Administrative Services

30

Asset Services

100

September 1997

P&O Asset Services Pty Limited;

Works Australia

100

August 1997

Gutteridge Haskins Davey Pty Ltd

DAS Interiors

100

September 1997

Interiors Australia Pty Limited (Note 2)

DAS Centre for Environmental Management

100

October 1997

DASCEM Holdings Pty Limited (Note 2)

DAS Distribution

100

September 1997

DAS Operations Pty Limited (Note 3)

Australian Operational Support Services

100

August 1997

Kilpatrick Green Pty Ltd

Australian Property Group

100

October 1997

Knight Frank Price Waterhouse Property Managers Pty Ltd

Telstra Corporation Public Share Offer

one third

Communication, the Information Economy and the Arts

November 1997

Public Share Offer

14,300

Housing Loans Insurance Corporation

100

Treasurer

December 1997

GE Capital Services Australia

7.49

Macleod Repatriation Hospital site

100

Veterans Affairs

February 1998

Victorian Government

1.75

Australian Multimedia Enterprise Ltd

100

Communication, the Information Economy and the Arts

April 1998

Allen & Buckeridge Pty Ltd.

29.3

Lease of Adelaide and Parafield (SA) Airports

100

Transport and Regional Development

April 1998

Adelaide Airport Limited, Parafield Airport Limited

363.5

Lease of Archerfield Airport (QLD)

100

Transport and Regional Development

April 1998

Archerfield Airport Corporation

3.1

Lease of Canberra Airport (ACT)

100

Transport and Regional Development

April 1998

Capital Airports Group

66.5

Lease of Coolangatta Airport (QLD)

100

Transport and Regional Development

April 1998

Queensland Airport Limited

103.6

Lease of Darwin, Alice Springs and Tennant Creek Airports (NT)

100

Transport and Regional Development

April 1998

Airport Development Group

110.15

Lease of Hobart Airport (TAS)

100

Transport and Regional Development

April 1998

Hobart International Airports Corporation Ltd

35.9

Lease of Jandakot Airport (WA)

Transport and Regional Development

April 1998

Jandakot Airport Holdings

6.7

Lease of Launceston Airport (TAS)

100

Transport and Regional Development

April 1998

Australian Pacific Airports Corporation

17.2

Lease of Moorabbin Airport (VIC)

100

Transport and Regional Development

April 1998

Metropolitan Airport Consortium

8.2

Lease of Townsville and Mount Isa Airports (QLD)

100

Transport and Regional Development

April 1998

Australian Airport Pty Ltd

15.9

*—(c) indicates the Minister in whose portfolio the asset belonged prior to sale. The Minister for Finance and Administration is responsible for the sale in each case.

Note 1: Sale was 100% of the then remaining Commonwealth equity, which was 51% of the equity in the Bank.

Note 2: Employee owned company.

Note 3: 50 % employee owned company.