Acquisition of interest in deep-sea container port developer and operator in Poland

23 September 2005

Macquarie Global Infrastructure Fund II (GIFII), an investor in global infrastructure assets, and co-investors today announced they have reached agreement to acquire a majority interest in DCT Gdansk SA (DCT).  The total transaction value is approximately  €180 million. 

DCT is the company selected by the Port of Gdansk to design, construct and operate a new, independent deep-sea container port that will be the largest of its kind in Poland.  GIFII’s investment will be applied to fund the development and construction of the container port, which is expected to be operational from early 2008.

Mr Greg Osborne, Managing Director of GIFII, said: "The deep-sea container port concept is an exciting development for the Port of Gdansk, providing Poland with much needed additional ports capacity at all times of the year as well as flow-on opportunities for local and regional economies. 

“The support of the Gdansk Port Authority, the Mayor of Gdansk and the regional Governor has been critical in making this development a reality and we look forward to working with these teams and the regional and national Governments in Poland as DCT undertakes the terminal construction over the next 24 months,” Mr Osborne said.

About the Macquarie Global Infrastructure Fund II

The Macquarie Global Infrastructure Fund II (GIFII) is an unlisted 10 year closed end fund with a focus on infrastructure investment in OECD countries (excluding Australia). GIFII is managed by a member of the Macquarie Bank Group.  The Macquarie Bank Group is a world leader in infrastructure management, with Macquarie and its related businesses managing more than €19 billion in infrastructure and specialist fund equity around the world through a range of listed and unlisted vehicles. Infrastructure investments managed by Macquarie include assets in transport, water, telecommunications and energy sectors across 17 countries, including Australia, the UK, Canada and the US, and South Korea.

For further information, please contact:

Karen Smith
Corporate Communications Manager
Macquarie Bank
Tel: (44) (0) 20 7065 2420

Macquarie Specialised Asset Management Limited and Macquarie Specialised Asset Management 2 Limited are not authorised deposit-taking institutions for the purposes of the Banking Act (Commonwealth of Australia) 1959, and Macquarie Specialised Asset Management Limited and Macquarie Specialised Asset Management 2 Limited's obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 ("MBL").  MBL provides a limited AUD5 million guarantee to the Australian Securities and Investments Commission in respect of Corporations Act obligations of Macquarie Specialised Asset Management Limited and Macquarie Specialised Asset Management 2 Limited as responsible entities of managed investment schemes.  MBL does not otherwise guarantee or provide assurance in respect of the obligations of Macquarie Specialised Asset Management Limited and Macquarie Specialised Asset Management 2 Limited, the performance of funds managed by Macquarie Specialised Asset Management Limited and Macquarie Specialised Asset Management 2 Limited or the repayment of capital.