Approved · Waiver · decided in 18 days, 20 Apr 2026
Prime Super, via Southern Way PS Pty Limited, increased its interest in Southern Way Holdings from 18.79% to 27.36%. The superannuation fund acquired additional stapled units and shares in the entity responsible for the Peninsula Link Project, a Victorian Public Private Partnership.
Southern Way PS Pty Limited as trustee for PS Southern Way Unit Trust, which is a wholly owned entity of Prime Super Pty Ltd as trustee for Prime Super (together, Prime Super ), will increase its percentage interest in Southern Way Holdings Pty Ltd and Southern Way Holdings Trust (collectively referred to as Southern Way Holdings ) from 18.79% to 27.36% pursuant to its pre-emptive rights in relation to both entities (the Acquisition ). The Acquisition involves a purchase of stapled units in Southern Way Holding Trust and shares in Southern Way Holdings Pty Limited. Prime Super is a multi-industry fully independent profit-to-members superannuation fund with approximately $8.4 billion in funds under management and 140,000 members. The target, Southern Way Holdings, is responsible for the delivery and maintenance of the Peninsula Link Project. The Peninsula Link Project is a Public Private Partnership to design, construct, maintain and operate the 27km Peninsula Link Freeway between Frankston and Mount Martha in Victoria, Australia. Southern Way Holdings is responsible for the maintenance and availability of Peninsula Link.