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Firms negotiate $1.87bn motorway acquisition
King & Wood Mallesons and Allens have acted on the sale of Brisbane’s Airport Link tunnel to a Queensland consortium.
Stefanie Garber
Firms: King & Wood Mallesons (Transurban Queensland); Allens (BrisConnections)
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Deal: BrisConnections sold the AirportLinkM7 motorway to the Transurban consortium.
Value: $1.87 billion
Area: M&A, ECM and debt financing
Key players: The cross-practice KWM team was led by partner Evie Bruce and Ros Anderson on the acquisition, and Claire Rogers on the debt financing. Partners Joseph Muraca and Will Heath led on the equity capital raising, with David Wood advising on tax.
Deal significance: Transurban Queensland made a successful bid for the AirportLinkM7 toll road, following a competitive bidding process.
Transurban owns 62.5 per cent of the Transurban Queensland consortium.
King and Wood Mallesons also advised Transurban on a $1.025 billion capital raising to fund the acquisition, reduce debt and provide financial flexibility.
The capital raising is the first PAITREO ever launched by a stapled entity, according to a statement from KWM.
