Qld Govt Sells $4bn Of Shares in QR National, But What About The Other $580 million?

The Queensland Government has sold just over $4 billion worth of shares in QR National, before public trading in those shares begins today. However, a Government statement issued on Saturday claimed the total proceeds of the sale were $4.6 billion.

The extra five hundred and eighty million dollars went unexplained in the statement, but Bryan Tyson of public relations firm Kreab Gavin Anderson told 4ZZZ News $80 million comes from a dividend that has already been announced, and $500 million was paid to the Government from part of a $3 billion loan taken out by QR National.

The Queensland Government still owns 40% of QR National, so it is indirectly exposed to that loan. QR National is the former freight division of Queensland Rail

4ZZZ News acknowledges the original information leading to this story came from the blog of Brisbane economist John Quiggin, who has other concerns about the figures in the Government’s statement.
Advertisements

1 Comment

Filed under Zedlines

One response to “Qld Govt Sells $4bn Of Shares in QR National, But What About The Other $580 million?

  1. Pingback: Tweets that mention Qld Govt Sells $4bn Of Shares in QR National, But What About The Other $580 million? « 4ZzZFM NEWS -- Topsy.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s