The Whitsunday Regional Council (WRC) appointed key personnel from Etheus to manage the transaction for the partial divestment of the Whitsunday Coast Airport at Proserpine, its related land bank, and associated aerodromes at Bowen and Collinsville in the Whitsundays region of Queensland. 

The project was particularly challenging from a timing perspective, as it was proposed that a full transaction process would be undertaken, and financial close be achieved, within eight months. 

Our people’s involvement

• Developed a detailed Transaction Plan and undertaking all transaction management activities for WRC

• Development of a Procurement Plan to outline the proposed transaction process to be undertaken

• Engaged a Probity Advisor and ensuring a robust probity process was implemented throughout the process, evaluation and negotiations, in conjunction with the Probity Advisor

• Assisted the preparation of a management presentation and Information Memorandum (IM)

• Full Market Sounding and roadshows to potential market participants

• Coordinated due diligence and Q&A processes

• Preparation of Expression of Interest (EOI) documentation

• Preparation of Request for Binding Bid (RFBB) documentation

• Evaluation of responses to the EOI process including detailed assessment of evaluation criteria

• Coordinating relevant advisors and work streams including economic, probity and legal

• Coordinating the valuation of the assets and considering various funding models

• Considering legislative frameworks and requirements (e.g. under LGA and SBFAA)

• Management of the RFBB phase with proponents including structured workshops and meetings with external parties

• Management of the RFBB evaluation process, including detailed evaluation, negotiations with proponents and commercial and contractual documentation

• Liaison with relevant government agencies and assisting policy/regulatory departments (as required)

• Assisting with commercial discussions with direct suppliers and stakeholders to the Airport

• Government stakeholder management

Key achievements and value-add from our services

• Development of and execution of a robust transaction process to meet very challenging timeframes.