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Allens advises DUET Group on $7.3 billion takeover proposal

16 January 2017

Allens has advised energy utility and infrastructure operator DUET Group (DUET) in relation to a consortium proposal led by Cheung Kong Infrastructure Holdings Limited to acquire 100 per cent of DUET's outstanding stapled securities for $7.3 billion.

The DUET Boards have unanimously recommended the offer by a consortium comprising Cheung Kong Infrastructure Holdings Limited, Cheung Kong Property Holdings Limited and Power Assets Holdings Limited.

The scheme implementation agreement was signed over the weekend.

'We have been excited to work with our long-standing client DUET Group on this important transaction,' said joint lead partner Marc Kemp.

'We are looking forward to continuing to work with DUET Group as the deal progresses,' he said.

The proposal remains subject to approvals, including foreign investment (FIRB) and DUET securityholder approval.

Allens legal team Marc Kemp (joint lead Partner), Stuart McCulloch (joint lead Partner), Andrew Wong (Mergers & Acquisitions Counsel), James Kanabar (Senior Overseas Practitioner), Charles Ashton (Senior Associate), Isaac Wall (Lawyer)

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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 39 offices in 28 countries around the world.