Helping realise the value of Sydney’s new motorways up front
WestConnex is Australia’s largest road infrastructure project, designed to address some of Sydney’s key future transport needs.
Once complete, the $17bn motorway network will comprise approximately 14km of above-ground motorway and 19km of tunnels across Greater Sydney. The project will provide motorists a continuous, 33km traffic-light free journey, with connections for future projects linking Sydney’s North Shore, South, and Sydney Airport.
In 2020 the NSW government announced intent to sell its 49% ownership stake in the motorway network. Project Pearl was initiated by NSW Treasury to investigate the feasibility of the sale, plan and then execute the transaction.
MBB Group supported NSW Treasury with the management of the sale feasibility study. This included conducting technical and environmental due diligence, advising on transaction requirements, conducting stakeholder liaison with WestConnex and Transport for NSW. We also worked with the Financial Advisers to manage technical inputs to the asset valuation model.
MBB provided commercial and strategic advice to NSW Treasury for Project Pearl. This included the initial Feasibility Study, Transaction planning, and Transaction Due Diligence.
The MBB team supported NSW Treasury throughout the Project Pearl lifecycle. Key deliverables and achievements included:
Transaction Advisory Services
Form of Contract
May 2020 – August 2021