Investors: Majority Share and Australian

investors: Australian companies IFM Investors and Australian Super have bought a majority share of electricity supplier Ausgrid for more than $16 billion on a long-term lease through an unsolicited bid, according to Nine News Australia. After $10 billion worth of debts are repaid, net proceeds from the transaction will be about $6 billion, NSW Premier Mike Baird says. The NSW government is eyeing off extra infrastructure projects after pocketing from two electricity deals what it expected to earn from three. Mr Baird said the "outstanding" result far exceeded expectations."On every single criteria this is a win, win win for the people of this state, for the members of the super fund, and ultimately, I believe strongly, for this economy," Mr Baird said."On the back of today we are underwriting for the future generation rail, roads, schools and hospitals."It is the second electricity asset to be partially-privatised by the NSW government, as part of Mr Baird 2015 election promise to raise $20 billion by selling off half the state poles and wires. With Commonwealth incentives and payments included, the eventual total from all three transactions is expected to far surpass the election commitment."When you bring the first two leases together, we're pretty much where we anticipated to be after three," Mr Baird said."So there an opportunity for further infrastructure."The Ausgrid deal comes after federal treasurer Scott Morrision in August blocked bids from Chinese investors for NSW electricity distributor, citing "national security" concerns. A large chunk of Transgrid was sold off in December for roughly $10 billion, with Endeavour Energy still up for grabs. (news.financializer.com). As reported in the news.