Divestment & Asset Sales

Divestment, also known as divestiture, is the process of selling an asset.  Organisations in the public sector frequently sell redundant, underperforming or excess assets such as land, buildings or motor vehicles.

As these assets are public resources, carefully planning and conducting the divestment process is important in achieving value for money outcomes.  In our experience, the key touch-points for asset divestments are compliance with applicable policies and process robustness.

For compliance with applicable policies clarity, probity requires that the divestment:

  • aligns with the organisation’s strategy
  • is underpinned by organisational policy that confirms compliance with legislation and government policies
  • has clearly documented each stage in the process, and
  • has a transparent governance and decision-making structure with clearly articulated roles, responsibilities and delegations

For process robustness, probity requires that:

  • the divestment process is open and transparent
  • there is comprehensive and clear information about the divestment on a website that is easily accessible by the public
  • the value of the asset is determined by qualified experts who are independent of the organisation
  • there are no actual, potential or perceived conflicts in any of the divestment stages
  • decision-making is objective, transparent and accountable
  • confidentiality and security (of materials, recommendations and decisions) are maintained
  • any direct negotiations are subject to a documented protocol and with regard to the ICAC publication titled Direct Negotiations: Guidelines for Managing Risks (August 2018), and
  • the divestment delivers value for money.

Our team has extensive experience assisting NSW organisations with various divestments.

We can help you plan and conduct your asset divestments within rigorous probity parameters.