find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Bakers advises on bulk buy

Bakers advises on bulk buy

Baker & McKenzie has advised a consortium of three buyers on the purchase of shares in Challenger LBC Terminal Jersey (LBC) from Challenger Infrastructure Fund.

Firms: Baker & McKenzie (consortium of three buyers - PGGM, APG Algemene Pensioen Groep (both Dutch pension funds) and an Australian superannuation investor)

Deal: Acquisition of 66.2 per cent of the shares in Challenger LBC Terminal Jersey (LBC) from Challenger Infrastructure Fund

Value: $US277.8 million

Key players: The deal was co-led by partner and London head of energy, mining and infrastructure Hugh Stewart, supported by senior associate Jannan Crozier. Australian partner Kenneth Gray managed the Australian law aspects of the transaction. Other team members included partner Marc Fèvre, senior associate Marni Riley and associate Oxana Chipperfield.

Deal significance: LBC is one of the world's largest independent operators of tank storage facilities for Liquid Bulk Chemical products. Bakers’ private equity partner David Allen, who co-led on the deal, said the acquisition “represents one of the most significant infrastructure transactions in 2012 to date”.

“LBC is a very attractive asset and has shown significant resilience to fluctuations in the global macro situation,” said Allen.

LBC currently manages a substantial network of port terminals with a combined storage capacity of close to 2.6 million cubic meters at key locations in the USA and China and along the European coastline in the Netherlands, Belgium, France, Spain and Portugal. The consortium has also signed a binding sale and purchase agreement to purchase the 3.8 per cent ownership held by Challenger Life in Challenger LBC Terminals Jersey Limited.

PGGM is a leading Dutch pension administrator with roots in the healthcare and social work sectors. It managed over €121 billion of pension assets of more than 2.3 million Dutch participants (April 2012). APG administrates over 30 per cent of all collective pension schemes in the Netherlands and manages pension assets of approximately €301 billion (March 2012).



Like this story? Read more:

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

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Bakers advises on bulk buy
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
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'...
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...
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 & ...