The Port of Darwin was the bone of an ongoing conflict among Australians who were concerned about Chinese interference.
Cerberus Capital Management, a US investment company linked to the Trump administration, has expressed interest in taking over the port of Darwin, which China has acquired.
Before the federal election on May 3, both the Albanese government and federal opposition parties pledged to reclaim the port from Beijing-linked company Landbridge.
“We have been an informal involvement with potential buyers for a while,” Prime Minister Anthony Albanese said. “If we need direct federal involvement, we are ready to act.”
On May 28th, Terry O’Connor, non-executive director of Landbridge in Australia, confirmed that the Cerberus representative had met with Darwin Port’s management but had not offered any assets.
“The conference (Cerberus) expressed interest in potential investments in the port given the company’s fairly high investment portfolio around the world,” he told ABC.
“It certainly wasn’t negotiated (in the case of the port), and there was no discussion or even a hike.
“We will see it as the same level of interest we have received from several other companies that we have spoken to with the port (management) over the past few months.”
In 2015, the then Liberal government in the Northern Territory leased the port to Landbridge on a 99-year contract worth $506 million.
The agreement raised national security concerns from former US President Barack Obama, and urged the Turnbull Liberal government to tighten asset sales regulations through the Foreign Investment Review Board.
Who is Cerberus?
Known for its distressed asset acquisition expertise, Cerberus Capital Management manages approximately $65 billion in assets across sectors such as military, automotive, real estate and aviation.
In March, the US Senate confirmed that Cerberus co-founder Stephen Feinberg was 36th Secretary of Defense with 59-40 votes, and raised him to the Pentagon second position behind Secretary of Defense Pete Hegses.
In this capacity, Feinberg will serve as Chief Operating Officer of the Department of Defense, overseeing day-to-day management teams and enforce the Secretary of Defense’s strategic priorities.
Xiao Qian, ambassador to China’s Communist Party (CCP), has announced a strong responsibilities in the Australian government’s plan to reclaim port leases.
“It is ethically questionable to try and revive a port when profitability is achieved after leasing ports when unprofitable times are not needed,” he said in a statement posted on its website on May 25th.
The statement came when he visited the port a few days after his trip to Darwin, met with staff at Landbridge, and was questioned by media in both China and Australia.
The Epoch Times contacted Landbridge, the Prime Minister’s Office and the Northern Territory government for comment.
