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Allens advises NSW Treasury on $16.2bn Ausgrid transaction

26 October 2016

Allens has advised the NSW Government on the partial lease of distribution network Ausgrid to an all-Australian consortium.

The NSW Government entered into a 99-year lease with IFM Investors and AustralianSuper following a successful Unsolicited Proposal.

Partner Kylie Brown said it was 'satisfying to reach this milestone in the Government's multi-stage partial lease of its electricity network.'

IFM Investors and AustralianSuper will have a 50.4 per cent stake in the distribution network , with the NSW Government playing an ongoing role as the lessor of the business and as an investor.

This transaction involved a multidisciplinary, multi-office team from Allens, with a core team drawing on the experience of the previous TransGrid long-term lease and similar government transactions across a number of sectors in a number of states.

The deal also drew on Allens' alternative legal services offering, a+, through extensive use of applied legal technology and document review.

'We look forward to working on the final tranche of work in the 'poles and wires' transaction, the long-term lease of Endeavour Energy,' said Partner Andrew Mansour.

Allens legal team Lead partners: John Greig, Kylie Brown, Andrew Mansour
Corporate: Chris Blane (Partner, Sydney); Marc Kemp (Partner, Sydney); Ian McGill (Partner, Sydney); Andrew Pascoe (Partner Perth), Chris Travers (Senior Associate, Sydney); William Coote (Associate, Sydney); James Martin (Associate, Sydney); James Nguyen (Associate, Sydney)
Energy, Resources & Infrastructure: Anna Collyer (Partner, Melbourne); Erin Feros (Partner, Brisbane);Victoria Holthouse (Partner Sydney);Jodi Reinmuth (Partner, Perth); Karla Drinkwater (Senior Associate, Brisbane); Damien Hughes (Senior Associate, Sydney); Ben Smallwood (Senior Associate, Brisbane); Kelvin Yu (Associate, Sydney)
Banking & Finance: Rob Watt (Partner, Sydney); Scott McCoy (Partner, Sydney); Gabrielle Morriss (Lawyer, Sydney)
Tax: Charles Armitage (Partner, Sydney); David Lewis (Associate, Sydney)
Commercial Litigation & Dispute Resolution: Malcolm Stephens (Partner, Sydney)
Applied Legal Technology: Sean Bagga (Senior Consultant, Sydney); Pavel Zorin (Senior Consultant, Sydney)

Ends

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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.