Sydney’s Lane Cove Tunnel backers are seeking about AU$600M (US$521.2M) for the asset which was placed in administration in January.
Receiver KordaMentha is expected this month to allow potential bidders to review financial data, with Leighton Holdings among the first to have access.
KordaMentha expected several parties to bid for the tunnel as equity and debt markets improve and with traffic through the tunnel growing.
The privately financed twin-tube tunnel, owned and operated by Connector Motorways, opened three years ago slightly ahead of schedule but hit difficulties caused by lower than predicted traffic volumes leading to weaker revenues.
When the company went into receivership last month, KordaMentha said the plan was to put the tunnel assets on a firm financial footing while considering a sale disposal. The toll tunnel will continue to operate despite the business setback.
