King & Wood Mallesons (KWM) has acted for Wren House Infrastructure Management (Wren House) on the sale of its 19.99% stake in TransGrid Australia to OMERS. TransGrid Australia is the manager and operator of the high voltage electricity transmission network in New South Wales and the Australian Capital Territory.
The KWM team was led by partner Mark Upfold (head of the KWM infrastructure group). He stated: "This deal started late last year, transitioned across COVID 19, the new dynamics at FIRB and involved navigating through a detailed pre-emptive rights regime. It had all the features that make infrastructure transactions so rewarding and we are proud to have helped Wren House Infrastructure meet its sale objectives after close to 5 years of post-privatisation ownership of the asset."
KWM fielded a cross-practice team, including infrastructure, corporate, tax and FIRB specialty areas. Assisting Mark Upfold was Gareth Howe (special counsel), Travis Irons (solicitor) and Victoria James (law graduate). In addition, support was also provided by Scott Heezen (partner, tax), Ros Anderson (partner, M&A) and Malcolm Brennan (partner, regulatory), Clifford Sandler, Amanda Kazacos and Caitlin Rodgers.
The transaction completed on Friday, 17 July 2020.
OMERS was represented by Herbert Smith Freehills and Allens Linklaters acted for TransGrid.