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Rita Saffioti says Investec will add to the experience and expertise of the Treasury and Landgate team. Photo: Attila Csaszar

Investec wins Landgate role

The state government has selected investment bank Investec as its commercial adviser on land registry agency Landgate, adding to speculation it is a likely privatisation target.

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What impact will the premature move by the lands minister to mandate the use of an e-conveyancing platform (PEXA) have on the potential value and sale of Landgate? It stands to reason that the regulation put forward by the minister to mandate e-conveyancing should now be shelved while a dissolution motion by Rick Mazza has been raised, giving sufficient time for Investec to review the potential move to privatise Landgate. It’s interesting to note that the Macquarie Group’s financial interest in not only the South Australian Land Titles Office but also PEXA (23.2%) indicates a keen interest for investment in the highly lucrative land information sector. Given the lands minister has repeatedly ignored industry opinion on the regulation to mandate the use of PEXA it would not be surprising if the Macquarie Group is hopeful the minister will push ahead with the premature regulation with the anticipation of securing a stake in Landgate.

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Total revenue

13th-Fremantle Ports$214.1m
14th↑Metropolitan Redevelopment Authority$169.1m
15th↓Landgate$163.1m
16th↓Southern Ports Authority$139.0m
17th↓Forest Products Commission$116.6m
29 state government businesses ranked by total revenue - this year

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