SYDNEY, April 12 A consortium comprising
Australia's Hastings Funds Management and pension fund First
State Super agreed to pay A$2.6 billion ($1.95 billion) to run
New South Wales state's land registry, the state government said
The money raised will be invested in infrastructure across
New South Wales, the government statement said.
The consortium is made up of 80 percent Australian
institutional investors, including First State Super, investment
funds from Hastings Funds Management and a 20 percent stake held
by the Royal Bank of Scotland Group's pension fund, also managed
by Hastings, it added.
"The transition to the new operator is expected to be
finalised over the coming months."
($1 = 1.3356 Australian dollars)
(Reporting by Tom Westbrook)