LAW firm Chang, Pistilli & Simmons (CP&S) has advised Babcock & Brown on the internalisation of its management and separation arrangements involving the company's Infrastructure business.
Babcock & Brown Infrastructure agreed to the terms of separation from BNB last week, which is subject to approval by its corporate lenders.
The CP&S team was led by partner Kevin Lewis.
Meanwhile, BBI's general counsel and law firm Clayton Utz advised BBI.
BBI's managing director, Jeff Kendrew, said: "This is a positive outcome for BBI's security holders and stakeholders, and will represent the start of a new chapter in BBI's history as an independent, listed essential infrastructure group with an internalised management structure."
BBI said it expects to retain all employees who have been managing BBI's assets.