More scrutiny on sale of port

THE investment banker who brokered the Darwin Port deal on behalf of the NT Government has been contracted by the winning bidder, Landbridge

THE investment banker who brokered the Darwin Port deal on behalf of the NT Government has been contracted by the winning bidder, Landbridge.

David Potaznik, formerly of Flagstaff Partners, has been hired by Landbridge Industry Australia to sell the 20 per cent stake in the port that has to go to an Australian-based company according to conditions he helped write into the lease contract, the Australian Financial Review reported yesterday.

The Port was leased for 99 years to Landbridge for $506 million last October. Mr Potaznik was a managing partner at Flagstaff, the company hired by the NT Government to find a buyer. Mr Potaznik told the AFR that he did not speak to Landbridge about working for the company while he was consulting on the deal on behalf of the NT Government.

“No discussions with Landbridge in relation to a potential consultancy arrangement were held until well after the lease transaction was completed,” he said in an email.

A spokesman for Flagstaff said yesterday that Mr Potaznik left the company on April 30 and that they have not spoken to him since.

The specific details of the port deal have never been released by the Giles Government and Freedom of Information requests were priced at $2600 by the Department of Chief Minister earlier this year.

Mr Giles declined to comment yesterday on Mr Potaznik joining the company with which he had helped award a major contract. A DCM spokeswoman said: “Flagstaff Partners provided advice and the NT Government is confident that the company delivered its services ... professionally and with complete integrity.”

Labor leader Michael Gunner said the details of the Port deal needed to finally be made public. “There is far too much secrecy surrounding this deal,” he said.