Perth Market Authority

Treasurer Mike Nahan says the government could generate proceeds of up to $3 billion through the sale of several assets earmarked in the budget as candidates for privatisation.

The state and federal budgets have created new opportunities for the private sector, as governments seek to repair their strained finances.

Perth's investment banking sector is jockeying for position to sell Canning Vale Market City, Utah Point in Port Hedland and the Kwinana Bulk Terminal, the first assets to be sold off to reduce the state government’s spiralling debts.

The state government has split the advisory roles for the first tranche of its asset sales program as it starts a sell down process that it hopes will relieve its difficult budget position.Premier Colin Barnett and Treasurer Mike Nahan announced a joint venture of Rothschild and Deloitte

The state government is aiming to collect up to $5 billion from a vastly expanded privatisation program that includes Fremantle Ports, the TAB, office buildings, residential land estates, Keystart loans, houses, plantations and power stations.

A recovery in economic growth, a raft of asset sales, and improved GST distribution will help lift the state’s finances out of their current parlous position; or at least that’s the hope outlined in yesterday's state budget.

After a decade of strong population and economic growth, debate continues as to the best ways to fund the state’s future infrastructure needs. Business News has compiled a list of the biggest state government assets that could be sold in future to fund infrastructure.

The Perth Market Authority's Market City is set to be the first major transaction in the state government’s asset recycling program, as expressions of interest in the fruit and vegetable wholesaler closed with a number of potential bidders.

Approval has been granted for the first in a series of state government asset sales, with legislation to sell Market City passing parliament after a debate that went until almost dawn.

An industry consortium led by members of the Chamber of Fruit and Vegetable Industries in WA has been selected as the preferred bidder for Market City, putting the state government a step closer to its first major asset sale.

The state government has flagged more asset sales after its mid-year budget update confirmed deepening financial problems, with the annual deficit worse than expected and state debt tipped to reach an unprecedented $39 billion.

The state government’s asset sales program has taken a step forward today, with Gresham Advisory Partners appointed as lead adviser for the partial sale of Keystart’s loan book.

There is little immediate prospect of the state government expanding its current $5 billion asset sales program, despite Premier Colin Barnett seeming to flirt with the possibility this week.

The state government has completed the first in a series of planned asset sales, announcing that it has concluded negotiations with an industry consortium to purchase the Perth Market Authority’s Market City.

A public sector wage freeze, amalgamations of major departments and a reform of health would be key moves to fix the state government’s worsening debt position, according to Chamber of Commerce and Industry of WA’s pre-budget draft submission.

Sydney-based GrainCorp has emerged as a cornerstone investor in a bid to corporatise and list CBH Group, through a complex deal that would deliver up to $1 billion in cash plus shares in the listed entity to the 4,200 grain growers who own and control the 83-year old cooperati

Former Skilled Group executive David Timmel has been appointed to the top job at Perth Markets, the newly formed company that has acquired the Perth Market Authority’s Market City.

The corporate watchdog has told the public to steer clear of a potential scam website that uses the same registered business name and the same business number as the recently privatised Market City.

The state government’s privatisation program hit more trouble today, with a mining lobby group that represents the users of the Utah Point wharf condemning a lack of consultation on the proposed sale. It follows a move by the National Party on Tuesday to refer the sale legislation to a parliamentary committee.

Treasurer Mike Nahan hopes to raise $16 billion from an expanded asset sales program, with Western Power and Horizon Power’s Pilbara transmission lines now targeted but two other assets unexpectedly removed from the government's sell-off list.

Two new directors have been appointed to Perth Markets, with Frank Romano replacing his former colleague Nick Tana on the board.