Frontrunners emerge in Macquarie (ASX:MQG) VicRoads play

There look to be 2 strong potential contenders for the joint venture with VicRoads.
The post Frontrunners emerge in Macquarie (ASX:MQG) VicRoads play appeared first on The Motley Fool Australia. –

Macquarie Group Ltd (ASX: MQG) is down 0.17% at time of writing, having given back some small early morning gains.

The S&P/ASX 200 Index (ASX: XJO), meanwhile, is in the green, up 0.56%.

Macquarie shares are in the spotlight today with fresh news breaking that the company is a frontrunner to takeover to become a joint venture partner with VicRoads.

What’s happening with VicRoads’ joint venture?

Victoria’s government revealed its intentions to take on a joint venture partner for VicRoads back in March.

VicRoads is a segment of Victoria’s Department of Transport. The successful partner will take over VicRoads’ registration, licensing, and custom plates services.

As The Motley Fool reported on 22 September, the Victorian government said:

The privatisation of the registry segment would provide a more user-friendly and cost-effective service. It will also allow the government to continue to control prices, road access, and safety without affecting jobs at VicRoads.

Companies were able to report their expressions of interest in September. And that’s when rumours first emerged that Macquarie was looking to become the joint venture partner.

While VicRoads isn’t meant to decide on the successful bidder until Q1 2022, news broke today that Macquarie remains a front runner in the process.

According to The Australian, “The contest for the $2bn-plus Victoria motor registry unit VicRoads … is shaping up as a shootout between Macquarie Group and Morrison & Co.”

Morrison & Co is a private alternative asset manager with a strong focus on infrastructure and property investment.

While final bids aren’t due until the latter part of the first quarter of 2022, The Australian reported that it understands “Macquarie Infrastructure and Real Assets with Aware Super, advised by Gresham and Macquarie Capital” made their initial bid on Tuesday.

As was the case in September, Morrison & Co remains its chief competition. “Brookfield is believed to be teaming up with Morrison & Co as a contender, taking advice from Barrenjoey Capital Partners.”

How have Macquarie shares been performing?

Macquarie shares have well-outpaced the benchmark over the past 12 months, gaining 46% compared to the 9% gain posted by the ASX 200.

Over the past month the Macquarie share price is up 2%.

The post Frontrunners emerge in Macquarie (ASX:MQG) VicRoads play appeared first on The Motley Fool Australia.

Should you invest $1,000 in Macquarie right now?

Before you consider Macquarie, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Macquarie wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why ASX 200 shares could add ~$70bn during the Santa Rally

Macquarie (ASX:MQG) share price on watch with GIG green hydrogen strategy

Why is the Macquarie (ASX:MQG) share price having such a good month so far?

Is the CSL (ASX:CSL) share price great value? Here’s what analysts think

2 ASX shares that tick all the right boxes for the long term: expert

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!