find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Real Estate & Projects Lawyer (6+ years PAE)
Category: Property Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Top tier firm with offices nationally · High profile clients
View details
Freehills advises on Transfield's power play

Freehills advises on Transfield's power play

Freehills is advising Transfield Services Infrastructure Fund on the proposed acquisition by Thailand's biggest power group for a controlling stake in the company.

LAW firm Freehills is advising the independent director of Transfield Services Infrastructure Fund on the proposed acquisition by Thailands biggest power company for a controlling stake in the company. 


Under the deal, the acquisition by Ratchaburi Electricity Generating Holding PCL (RATCH) of the 56.2 per cent of the fund not owned by Transfield Services will be acquired at 85 cents a security, valuing the entire fund at $373 million. It also carried $440m of debt. The proposed cash offer implies an enterprise value for TSI Fund of $813 million.


The scheme implementation agreement, which signed on Monday, contemplates that the acquisition will take place via inter-conditional schemes of arrangement and an associated trust scheme.


RATCH and TSE have entered into a transaction framework agreement under which they have agreed to a number of transactions which are conditional on the implementation of the Schemes, including RATCH acquiring a further 23.8 per cent in TSI Fund from TSE, the law firm said. 


TSI Fund is a tripled stapled ASX-listed entity which owns a portfolio of interests in essential infrastructure assets.


RATCH is Thailand’s leading power producer, listed on the Stock Exchange of Thailand. 


The fund holds three Australian wind farms, thermal energy assets and a 50 per cent interest in two water filtration plants. 


Freehills partner Philippa Stone said the firm is delighted to have assisted TSI Fund in securing what the independent directors, after having evaluated a range of alternatives, consider to be the best overall outcome for its securityholders. 


"It has been a pleasure to continue our longstanding relationship with TSI Fund, having initially acted on its IPO and more recently on its capital structure review in 2010.’


The Freehills team is led by Philippa Stone and includes partner Tony Sparks, senior associate Robert Feiner and lawyers Ivan Yu, Ashley Rose and Calvin Kwok.

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


Freehills advises on Transfield's power play
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Unite
07:04
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
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 & ...