KWM advises on A$7.3bn acquisition of DUET Group

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King & Wood Mallesons (KWM) has advised a consortium comprising Cheung Kong Property Holdings Limited, Cheung Kong Infrastructure Holdings Limited and Power Assets Holdings Limited on its proposed A$7.3bn acquisition of ASX-listed energy company DUET Group.

The acquisition will be executed by way of schemes of arrangement and a trust scheme. 

The Australian team was led by projects partner Louis Chiam, M&A partner David Eliakim, M&A senior associate Daniel Natale and projects senior associate Jonathan Mitchell. 

The Hong Kong team was led by partners Hayden Flinn and John Baptist Chan and senior associate Amy Chan.

Commenting on the deal, Louis Chiam said: "Our clients are highly-regarded and very experienced owners of infrastructure and property assets around the world and we are pleased to have had the opportunity to further develop our long-term relationship by assisting the consortium on this significant investment in Australia."

DUET's portfolio includes power and gas distribution networks in Victoria and South Australia, and Western Australia's gas transmission line the Dampier to Bunbury Pipeline.  

The Schemes are expected to be implemented by mid-May 2017, subject to Foreign Investment Review Board approval and relevant shareholder approvals.