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Airportlink M7 sale finalised

Airportlink M7 sale finalised

Kate Towey

Three firms have acted on the acquisition of a Brisbane toll road by the Transurban Queensland consortium.

Firms: Allens (receivers and managers of BrisConnections); King & Wood Mallesons (Transurban Queensland consortium); Clayton Utz (State of Queensland)

Deal: The receivers of BrisConnections sold the AirportLink M7 to Transurban Queensland.

Value: $1.87 billion

Area: M&A

Key players: The Allens team was led by corporate partner Kate Towey. She was assisted by partners Guy Alexander, Chris Prestwich, Ian Wallace; senior associates Alexandra Feros, Annabelle Aland and Aparna Nanayakkara; and lawyer Philippa Abbott.

Deal significance: The Airportlink M7 is a 6.7-kilometre toll road linking Brisbane’s CBD to its northern suburbs and the airport.

The project was completed by BrisConnections in 2012, before the company went into voluntary administration and receivership in 2013.

The receivers initiated the sale process of the road in 2015, with Transurban Queensland being the successful bidder.

Approval was required by the Queensland state government as the grantor of the concession to maintain and operate the road.

 

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Airportlink M7 sale finalised
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