King & Wood Mallesons (KWM) is pleased to have acted for global infrastructure investor John Laing on its acquisition of an additional 62.5% stake in the Sydney Light Rail PPP, taking its total equity commitment in the Sydney Light Rail PPP to 95%.
The transaction shows the confidence which John Laing has in this transformational infrastructure project for Sydney.
Andy Haining, Co-Head of APAC at John Laing, said:
“Sydney Light Rail is a landmark project that continues to deliver outstanding outcomes for passengers and has enhanced the communities through which it operates. We are excited to increase our long-term commitment to SLR.”
The KWM team included Partners Mark Upfold and Claire Rogers, Special Counsel Gareth Howe and Senior Associate Matt Hundt. This transaction is the most recent project this team has acted on for John Laing.
Commenting on the deal, Gareth Howe said:
“Congratulations to John Laing on increasing its equity commitment in the Sydney Light Rail PPP project. It was a pleasure to work with the John Laing team on what is a critical project for Sydney’s infrastructure that continues to provide benefits both to the community and Australia’s net zero ambitions. This transaction demonstrates the strong relationship between KWM and John Laing, and we look forward to future transactions together.”
The acquisition is subject to typical terms and conditions being met and is expected to complete before the end of Q4.
