Regional Telecommunications, a company owned by Local Authorities Super (VIC) as part of its Regional Infrastructure Fund (RIF) group and managed by Industry Fund Services, has acquired a 50 per cent stake of Reef Networks from Vytel, a subsidiary of Leighton and ABN Amro.
Reef Networks owns a fibre-optic cable network in Queensland, which stretches about 1800 kilometres along the coast from Brisbane to Cairns within the Queensland Rail corridor.
The Macquarie Bank Global Infrastructure Fund owns the other half of Reef.
RIF focuses on infrastructure in regional Australia, especially wind energy and water, and has an initial commitment of $40 million.
