find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Private consortium lands Port of Melbourne lease

Private consortium lands Port of Melbourne lease

With a private consortium securing the bid for a 50-year lease for the Port of Melbourne, expansion of a major Victorian trade hub pushes on.

Firms: Herbert Smith Freehills (‘Lonsdale Consortium’ comprising the Future Fund, QIC, Global Infrastructure Partners (GIP) and OMERS); MinterEllison (State of Victoria); King & Wood Mallesons (Financers comprising 17 banks)

Deal:  The Victorian state government has granted a 50 year lease of the Port of Melbourne to the Lonsdale Consortium.

Value: AUD $9.7 billion

Area: Infrastructure, Project Finance

Key players: The HSF team advising the Lonsdale Consortium was led by partners Peter Butler and Robert Nicholson. Specialist teams from across the firm’s corporate, finance, regulatory, disputes, employment, environment and real estate practice areas also assisted.

The MinterEllison team advising the Victorian government was led by partners Peter Block and Andrew Rentoul. Partners Geoff Carter, Antra Hood, Anthony Poynton, Mark Standen, Lloyd Baggott and special counsel Richard Campbell also assisted with the deal.

The KWM team advising the financers in the deal was led by partner Claire Rogers (pictured), with assistance from solicitor Amy Maguire.

Deal significance:

The Victorian government has granted a 50 year lease of the Port of Melbourne to a private consortium (Lonsdale Cosortium) comprising the Future Fund, QIC, GIP and OMERS.

The site is Australia’s largest container and cargo port and had the final remaining east coast port to be leased to the private sector.

Granting of the lease follows the announcement of plans to further develop the Victorian trade hub, with construction of a new container handling terminal and automotive facility pending.

HSF advised Lonsdale Consortium on all aspects of the transaction. Partner Peter Butler led the teams involved in the negotiation and documentation of equity arrangements, debt facilities and transaction documents with the State of Victoria.

Mr Butler described the successful bid as an excellent outcome for the consortium in what was a competitive process.

“The deal involved navigating the complexities of the regulatory regime applying to the asset. Our team provided expert advice on the large number of tenancies existing at the port, some with major projects in the development phase,” Mr Butler said.

“Our clients’ global expertise in managing similar assets, combined with their long term development plan for the Port will help support future growth and further improve the productivity of this important asset.”

Credit Suisse and Gresham acted as financial advisers to the consortium.

KWM advised the 17-member bank club to finance the $9.7 billion deal, which involved a fully committed and documented financing package. KWM partner Claire Rogers underscored the significance of the infrastructure project deal, describing it as a “landmark transaction, which represents one of the largest acquisitions in the Australian market this year”.

KWM partner Claire Rogers

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

Private consortium lands Port of Melbourne lease
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Dec 11 2017
Warm welcome for new district court judges
Three practitioners who were appointed as district court judges in WA have been congratulated by ...
Lawyers welcome same-sex marriage reform
Dec 11 2017
Lawyers welcome same-sex marriage reform
Australian lawyers have welcomed the recent legalisation of same-sex marriage, after a prolonged nat...
Senate disallows double standards for temporary visa holders
Dec 8 2017
Senate disallows double standards for temporary visa holders
Lawyers have welcomed the Senate’s rejection of regulations imposing strict penalties on temporary...
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 & ...