❓ Hon. Ken Travers questions the Treasurer regarding the success fee payable to the lead financial advisor (LFA) for the Fremantle Port sale/lease, specifically concerning variations based on timing and amount received. The Treasurer confirms the fee varies based on the amount received but keeps details confidential.
AnsweredQoN 345Legislative Council
QuestionView source ↗
FREMANTLE PORT —
CONSULTANTS AND ADVISERS
345. Hon KEN TRAVERS to the Attorney General
representing the Treasurer:
I refer to the
answer to question without notice 306.
(1) Did the
estimated expenditure in 2016–17 include an estimate of the success fee
payable to the lead financial adviser—LFA?
(2) Will the
success fee payable to the LFA vary depending on the timing of the sale or
lease?
(3) Will the
success fee payable to the LFA vary depending on the amount received by the state
from the sale or lease?
(4) If yes to (2)
or (3), what are the variations?
(5) If no to (2)
or (3), why not?
CONSULTANTS AND ADVISERS
345. Hon KEN TRAVERS to the Attorney General
representing the Treasurer:
I refer to the
answer to question without notice 306.
(1) Did the
estimated expenditure in 2016–17 include an estimate of the success fee
payable to the lead financial adviser—LFA?
(2) Will the
success fee payable to the LFA vary depending on the timing of the sale or
lease?
(3) Will the
success fee payable to the LFA vary depending on the amount received by the state
from the sale or lease?
(4) If yes to (2)
or (3), what are the variations?
(5) If no to (2)
or (3), why not?
AnswerView source ↗
On behalf of the Treasurer, I thank the
honourable member for some notice of the question.
(1) No. However,
some of the LFA costs incorporated in this figure will be rebateable against
the success fee.
(2) No.
(3) Yes.
(4) The detailed
payment terms of the LFA contract are commercial-in-confidence. However, there
will be full disclosure of all divestment costs incurred for the transaction
following completion of the transaction.
(5) As above.
honourable member for some notice of the question.
(1) No. However,
some of the LFA costs incorporated in this figure will be rebateable against
the success fee.
(2) No.
(3) Yes.
(4) The detailed
payment terms of the LFA contract are commercial-in-confidence. However, there
will be full disclosure of all divestment costs incurred for the transaction
following completion of the transaction.
(5) As above.
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