KWM advises Sydney Transport Partners Consortium on successful bid to acquire majority control of Sydney’s WestConnex

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King & Wood Mallesons (KWM) advised the Sydney Transport Partners consortium on their winning $9.3 billion bid to acquire 51% of WestConnex.

Led by Transurban the consortium also includes AustralianSuper, Canada Pension Plan Investment Board and Tawreed Investments Limited.

Sydney Transport Partners was chosen as the successful Bidder for the WestConnex toll road following Australian Competition and Consumer Commission (ACCC) clearance.

The KWM deal team was led by Partners Peter Doyle, Claire Rogers, Andrew Monotti, David Eliakim, Ros Anderson, James Forrest, Chris Dynon, Rebecca Finkelstein, Kristen Bowe, Malcolm Brennan and Murray Kellock. The team was supported by John Arthur, Andrew Phillipson, Amy Maguire, Fiona Ho, James Corrigan, Alexandra Smith, Patrick Atkinson, Lauren Murphy, Clifford Sandler and Josh Saville. Transurban was also separately represented by KWM partner Mark Upfold supported by Gareth Howe and Emily Andrews.

Commenting on the deal Partner Peter Doyle said:

"This deal showcases the strength and depth of the KWM client offering across all relevant practise areas and our ability to work in partnership with our client Sydney Transport Partners consortium. We are grateful for the opportunity to support the Consortium on this major infrastructure deal which is strategically significant for the NSW Government and the Consortium."

To fund its share of the purchase price, Transurban will undertake a $4.2 billion fully underwritten pro rata entitlement offer and a $600 million securities placement to some of its consortium partners. KWM Partners Joseph Muraca and Will Heath lead KWM's equity capital markets team, supported by senior associate Jack Hill.