NEWS

Allens advises DUET Investment Holdings Limited on acquisition of additional interest in Dampier to Bunbury Natural Gas Pipeline

By Marc Kemp, Mark McAleer
Energy Funds Infrastructure Mergers & Acquisitions Oil & Gas Resources

Allens has advised DUET Investment holdings Limited on its $205 million acquisition of an additional interest in the Dampier to Bunbury Natural Gas Pipeline (DBP), one of Western Australia's most important pieces of energy infrastructure.

DUET Investment Holdings Limited reached agreement with Alcoa of Australia to acquire its 20 per cent stake in DBP, bringing DUET's aggregate ownership of the pipeline to 100 per cent.

Allens also advised on a $230 million capital raising to fund the project, including a fully underwritten $200 million placement and a $30 million stapled security purchase plan.

'We are delighted to have worked with an important client on an acquisition which gives it complete ownership of such a valuable piece of Australia's energy infrastructure,' said Marc Kemp, lead partner on the deal.

Allens' Sydney and Perth offices were involved in the transaction, which completed on 6 April.

Allens legal team

Corporate: Marc Kemp, Partner – Sydney; James Kanabar, Senior Overseas Practitioner – Sydney; Patrick Boyle, Lawyer – Sydney; Antonia Ross, Law Graduate – Sydney.
Energy, Resources & Infrastructure: Mark McAleer, Partner – Perth.

Ends

Notes for editors.

Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.