NEWS

Allens advises on largest cash takeover in Australian history

Funds Infrastructure Mergers & Acquisitions

Allens has advised Sydney Airport on the acquisition of 100 per cent of its securities by the Sydney Aviation Alliance, a consortium led by Global Infrastructure Partners and IFM Investors.

The now completed acquisition is both the largest cash and infrastructure takeover in Australian history. Valued at approximately AU$32 billion, the transaction was implemented by way of an inter-conditional scheme of arrangement and trust scheme.

The Allens team was led by Corporate Partners Guy Alexander, Julian Donnan and Chris Blane, and supported by Senior Associates Bree Rowswell and Tom Hall, Associates Ellen Trevanion and Will Brown, and Lawyer Ben Fong.

Commenting on the transaction, Partner and Head of Public M&A, Guy Alexander said, 'We are very pleased to have advised Sydney Airport on the successful implementation of this landmark transaction. This deal demonstrates the continued demand for listed and unlisted Australian infrastructure assets and follows a strong year for our public M&A practice having also advised on transactions such as Spark Infrastructure, Oil Search, Vocus, Ausnet, ALE and Boral.'

Partner Julian Donnan said, 'Sydney Airport is one of the oldest continually operating airports globally and is an essential part of Australia's transport network. This deal builds on Allens' long-standing relationship with Sydney Airport and we were delighted to work with Sydney Airport's boards and senior management team to ensure the transaction completed successfully.'

Allens continues its market leading position in M&A, having topped the Refinitiv and Mergermarket M&A league tables for 2021, advising on transactions across the region valued at approximately A$250 billion and the majority of the top 10 largest public M&A deals announced in Australia in 2021.

Allens legal team

M&A

Guy Alexander (Partner), Julian Donnan (Partner), Chris Blane (Partner), Andrew Wong (Mergers & Acquisitions Counsel), Bree Rowswell (Senior Associate), Tom Hall (Senior Associate), William Brown (Associate), Ben Fong (Lawyer), Hero Cook (Lawyer)

Funds

Marc Kemp (Partner)

Anti-Trust

Fiona Crosbie (Chair), Rob Walker (Partner), Roy Chowdhury (Associate)

Court process

Paul Nicols (Partner), Ellen Trevanion (Associate), Nicholas Michalakas (Lawyer), Kiara Di Carlo (Lawyer)

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.