Firms: Norton Rose Fulbright (AMP Capital), King & Wood Mallesons (Royal Bank of Scotland), Minter Ellison (AMP financiers)
Deal: AMP Capital purchased the debt and equity interests in the Royal North Shore Hospital from the Royal Bank of Scotland
Value: $1 billion-plus
Key players: At NRF, corporate partners Nigel Deed and Adrian Ahern led the acquisition, while banking and finance partners Chris Redden (pictured) and Jo Crew led the financing of the deal.
Deal significance: The acquisition marks one of the highest-value deals in the infrastructure space this year, according to a statement from Norton Rose Fulbright.
The firm also recently advised on two other high-profile infrastructure deals – the financing of the Sydney Light Rail Project and the $2 billion acquisition of Crown Castle by MIRA, UBS Infrastructure and UniSuper.
Crown Castle is the largest independent owner of mobile telecom towers in Australia, while RNS is a leading hospital in NSW and was structured via a public-private partnership, the statement said.
Partner Chris Redden said the deals demonstrated the strength of the infrastructure pipeline in Australia, particularly in NSW.
“The multiples being received by vendors are driving vendors to pursue privatisation and sale programs across a broad range of assets, including pipelines, airports, ports, gas storage as well as in the renewable energy space,” he said.
“This is in addition to the massive greenfield infrastructure pipeline which includes the mega projects such as Victoria’s $11 billion Metro Rail project, the $10 billion Sydney Metro project and the Western Sydney Airport at Badgerys Creek.”