find the latest legal job
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Adelaide CBD · Join a leading Adelaide commercial law firm
View details
Freelance Project Finance Lawyers
Category: Other | Location: All Australia
· Vario are looking for freelance lawyers with experience in project finance ideally within the renewable energy sector
View details
Vario Freelance Lawyers
Category: Construction Law | Location: All Australia
· We are looking for lawyers who appreciate the endless possibilities that a freelance career can offer.
View details
Freelance Construction Lawyers
Category: Construction Law | Location: All Melbourne VIC
· We are looking for construction lawyers who appreciate the endless possibilities that a freelance career can offer.
View details
Banking Associate - 1-6PQE - Allen & Overy
Category: Banking and Finance Law | Location: United Kingdom
· Banking Associate - 1-6 PQE - Allen & Overy
View details
Billion-dollar stapled securities sale complete

Billion-dollar stapled securities sale complete

A utility and infrastructure operator has sold all of its stapled securities to a consortium for more than $7 billion.

Firms: Allens (DUET Group); King & Wood Mallesons (Counsel for Cheung Kong Infrastructure Holdings Ltd).

Deal: A consortium led by Cheung Kong Infrastructure has acquired 100 per cent of DUET Group’s (DUET) stapled securities.

Value: $7.4 billion

Area: M&A, finance, funds, litigation

Key players: The Allens team advising DUET on the stapled securities sale was led by partners Marc Kemp and Stuart McCulloch (pictured).

Deal significance: The $7.4 billion sale to a consortium of all of the stapled securities for DUET was implemented on 15 May. Cheung Kong Infrastructure Holdings Ltd led the consortium that acquired the securities.

DUET’s asset portfolio includes the Dampier to Bunbury gas transmission pipeline, energy business Energy Developments Limited, and power and gas distribution networks in Victoria.

According to the Allens, who advised DUET on the transaction, the deal involved four inter-conditional schemes. Of those four schemes, three were company schemes of arrangement and one was a trust scheme.

Commenting on the deal, Allens lead joint partner Marc Kemp said the matter involved a large multidisciplinary team.

“We are delighted again to have worked with our long-standing client, DUET, on this transformative deal, and congratulate them on the outcome,” Mr Kemp said.

Like this story? Read more:

Book commemorates diamond milestone for WA law society

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

Billion-dollar stapled securities sale complete
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Debate rises over Victorian judiciary attack
Jan 24 2018
Debate rises over Victorian judiciary attack
The Victorian Bar has become the latest to go on record condemning recent political attacks on the V...
Michelle Quigley QC
Jan 24 2018
Vic Barrister who helped stop major heritage redevelopment joins Supreme Court
Michelle Quigley QC, who assisted a coalition to oppose the redevelopment of St Heliers villa estate...
Building, construction
Jan 24 2018
Building finish for NSW coroner’s complex slated for early 2019
Efforts to relocate the state coroner’s facilities from Glebe to Lidcombe are on track, according ...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...