On July 2, 2004, Cheung Kong Infrastructure Holdings Ltd. (CKI) completed the acquisition of a 40 per cent interest in the Lane Cove Tunnel consortium, which has the right to develop, finance, construct and operate for 33 years the Lane Cove Tunnel in Sydney, Australia. The consideration for the 40 per cent interest was A$239 million. The Li Ka Shing (Overseas) Foundation purchased 14.9 per cent of the consortium. CKI now has significant interests in each of the two major privately owned tunnel consortiums in Australia, owning 50 per cent of the Sydney Cross City Tunnel as well as its interests in the Lane Cove Tunnel consortium.
CKI was represented by Stikeman Elliott’s Brian Hansen in Sydney. The consortium was represented by Minter Ellison’s Leigh Brown.