Past Sales

Trade Sales Managed by the Commonwealth
Summary of trade sales managed by the Commonwealth * Sale Proceeds ($m)
April 1988
Commonwealth Accommodation and Catering Services
14.9
November 1988
Defence Service House Corporation Loan Portfolio
1,515
June 1989
AMDEL
0.92
May 1991
Australian Defence Force Home Loan Franchise
42
(plus annual commission payments)
June 1991
Commonwealth Housing Loan Assistance Schemes in the ACT
47.3
September 1992
Australian Airlines
400
March 1993
25% of Qantas
665
November 1993
Snowy Mountains Engineering Corporation
1.5
June 1994
Moomba-Sydney Pipeline System
534
June 1994
Commonwealth Uranium Stockpile
57
June 1995
Aerospace Technologies of Australia Pty Ltd
40
December 1996
Commonwealth Funds Management
62.5
January 1997
Avalon Airport Geelong Ltd
1.5
(plus annual lease payments)
May 1997
Phase 1 Airports
  • Melbourne Airport
  • Brisbane Airport
  • Perth Airport
3,337
July 1997
DASFLEET
408
September 1997
Australian Industry Development Corporation Ltd
(sale included provision of a $3,200m pool of Commonwealth bonds to repay equivalent amount in Commonwealth guaranteed borrowings as they fall due)
155
November 1997
Australian National Railways Commission
95.4
October/November 1997
Department of Administrative Services
  • Asset Services
  • Australian Operational Support Services
  • Australian Property Group
  • DAS Centre for Environmental Management
  • DAS Distribution
  • DAS Interiors
  • WORKS Australia
28.9
December 1997
Housing Loans Insurance Corporation
108
February 1998
Former Macleod Repatriation Hospital site
1.75
April 1998
Australian Multimedia Enterprises Ltd
29.3
(capital return)
April 1998
Phase 2 Airports
(Adelaide; Alice Springs; Canberra; Coolangatta; Darwin; Hobart; Launceston; Mt Isa; Parafield; Tennant Creek; and Townsville; Archerfield; Jandakot and Moorabbin)
730.8
June 1998
Auscript
1.1
March 1999
National Transmission Network
650
December 1998 - May 1999
Australian River Co. (formerly ANL Ltd)
20.697
November 1999
ADI Ltd
346.78
January 2000
Removals Australia
10.4
April 2000
AWRAP (Australian Wool Research and Promotion)
(corporatisation and industry restructure)
September 2001
Essendon Airport Ltd
22.044
February 2002
Combined sale of National Rail Corporation Ltd and
NSW's Freight Rail Corporation ($1172m total transaction value)
220
June 2002
Sale of Sydney (Kingsford Smith) Airport ($1355m of SACL debt repaid in addition)
4233
December 2003
Sale of Sydney Basin Airports (Bankstown, Camden and Hoxton Park)
211.0
June 2004
ComLand Limited ($25.3m of ComLand debt repaid in addition)
139.7

Share Offers managed by the Commonwealth
Share Offers managed by the Commonwealth Share Offer Proceeds ($b)
October 1993
Commonwealth Bank Secondary Public Share Offer (2)
1.7
June 1994
CSL (former Commonwealth Serum Laboratories) Public Share Offer
0.3
July 1995
Qantas Public Share Offer
1.4
July 1996
Commonwealth Bank Secondary Public Share Offer (3) and share buy back
5.1
November 1997
Telstra 1
14.2
(plus $3 billion payment to the Commonwealth from retained earnings)
October 1999
Telstra 2
16.0
November 2006
Telstra 3
15.4

Scoping Studies completed since January 2002
Scoping Study Details
Medibank Private, ComLand & Defence Housing Authority - Scoping Studies On 14 May 2002 the Minister for Finance and Administration, Senator Nick Minchin, announced scoping studies into Medibank Private Ltd (MPL), ComLand Ltd and the assets of Defence Housing Authority (DHA).Following receipt of the scoping study reports, the Australian Government announced:
  • that it would not proceed with a sale of MPL at this time; and
  • the sale of ComLand in January 2004.
The DHA scoping study made a number of recommendations aimed at improving the overall operational efficiency of DHA.
Albury-Wodonga Development Corporation (AWDC) - Scoping Study The Minister for Finance and Administration, Senator the Hon. Nick Minchin, announced on 13 May 2003 that the Australian Government would undertake a scoping study into the future of the Albury-Wodonga Development Corporation (AWDC).On 27 June 2005, the Hon. Dr Sharman Stone MP, Parliamentary Secretary to the Minister for Finance and Administration, announced the following outcomes of the scoping study:
  • the AWDC would not cease all activity and be disbanded by June 2007, as earlier agreed by the Victoria, NSW and the Commonwealth; and
  • the Australian Government has decided to extend the life of the AWDC for as long as it takes to put the remaining land on the market in an orderly and market sensitive way; and
  • the AWDC would no longer undertake any land or community development activity.
The scoping study provided the Australian Government with an opportunity to fully understand the financial position of the AWDC and to determine the best corporate and ownership structure for the AWDC going forward.The AWDC is now trading under the name of Albury Wodonga Corporation.
Medibank Private - Scoping Study Update The Minister for Finance and Administration, Senator the Hon. Nick Minchin, announced on 16 August 2005 that the Government would review its ownership of Medibank Private Limited and update the 2003 scoping study into the possible sale of the company.On 6 September 2005 Senator Minchin announced that Carnegie, Wylie & Company had been appointed as Business Adviser to the update of the scoping study.The update of the 2003 scoping study examined the operation and structure of Medibank Private, analysed the industry and policy environment in which it operates, and considered options for the Commonwealth's future ownership of the company.The scoping study update was presented to the Government in December 2005.
  1. 'Asset Sales commenced in 1987 with the Task Force on Asset Sales established in the then Department of Finance. In 1996 the function was transferred to the newly established Office of Asset Sales. The Office had a number of name changes, firstly to the Office of Asset Sales and IT Outsourcing (OASITO) and lastly to the Office of Asset Sales and Commercial Support (OASACS). In December 2001 OASACS was abolished and the asset sales function transferred back to the Department of Finance and Administration.

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Contact for information on this page: john.edge@finance.gov.au