Firms: Clayton Utz (Queensland Treasury Holdings)
Deal: Sell-down of shares in ASX-listed QR National Limited
Area: Capital markets
Value: $1.5 billion
Key players: Corporate partners Tim Reid and Stuart Byrne (pictured) led the Clayton Utz team with support from senior associates Richard Knott and Natalie Krahe
Deal significance: The sell-down of shares in QR National, Australia's largest rail freight operator, comprised a $0.5 billion block trade to institutional investors and a $1 billion buy-back by QR National (subject to shareholder approval).