(MAM) has acquired a 50% stake in the Victorian land registry in Australia from Aware Super for an undisclosed sum.
Aware Super will retain the remaining 50% interest in Secure Electronic Registries Victoria (SERV), which it originally took private in 2018 for A$2.86bn (β¬1.8bn).
ΒιΆΉΣ³» Real Assets understands the purchase price was A$3.3bn (β¬2bn), based on a 21x multiple.
In Australia, MAM and Aware Super are co-investors in a number of data, technology and critical infrastructure assets, including VicRoads, Vocus, 2degrees and NSW Land Registry Services.
Maria Donnelly, senior portfolio manager, Aware Super, said: βWe are pleased to welcome Asset Management as our partner and remain a committed 50% shareholder, continuing to actively manage our investment and support the delivery of secure, reliable and innovative registry services for Victoria.β
John Danieli, managing director, Macquarie Asset Management, said Macquarie Global Infrastructure Fundβs proposed investment in SERV is another example of MAMβs βextensive experience and strong track record in modernising and digitising land and motor registries in multiple Australian jurisdictionsβ.
Andrew Faber, CEO, SERV, said: βSERV is proud of our track record as the private operator of Victoriaβs Register of land, working in collaboration with the State to support Victoriaβs property market and enabling Victorians to make informed decisions about land and property ownership every day.β
This article has been updated to include transaction valuation details as understood by ΒιΆΉΣ³» Real Assets.
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