Macquarie buys the rights to operate SKYCITY’s carparks

Macquarie Principal Finance Group has been named as the successful purchaser of the rights to operate SKYCITY’s carparks in Auckland. The concession agreement runs for 30 years and will include more than 3000 carparks at SKYCITY’s Auckland casino and at the New Zealand International Conference Centre, once completed.

SKYCITY announced to the market that the price paid was NZ$220 million.

MinterEllisonRuddWatts advised global investment bank, Goldman Sachs, on underwriting the acquisition, with Bell Gully and Mayne Wetherell advising SKYCITY and Macquarie respectively.

Banking and Finance partners Steve Gallaugher and Tom Fail led the MinterEllisonRuddWatts team.

“This quasi-project finance deal created many unique challenges, particularly due to the nature of the assets and the negotiation of the concession,” says Steve Gallaugher.

“All parties were pleased with the outcome and we were delighted to assist Goldman Sachs on this significant transaction.”

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