find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
CP&S plugs into grid deal

CP&S plugs into grid deal

CHANG, PISTILLI & SIMMONS (CP&S) continued its work for APA Group (APA) — formerly Australian Pipeline Trust — in its $170 million purchase of DirectLink, one of only two…

CHANG, PISTILLI & SIMMONS (CP&S) continued its work for APA Group (APA) — formerly Australian Pipeline Trust — in its $170 million purchase of DirectLink, one of only two electricity transmission links between the New South Wales and Queensland power grids.

Middletons and Deacons acted for the sellers of DirectLink, FST Quebec, the Hydro Quebec group and Country Energy.

APA bought companies operating the assets as a joint venture, including Canadian corporate groups. CP&S said it advised APA on all aspects of the transaction, which was conducted through a competitive bid process.

The deal was finalised at the end of last month, after the purchase agreements were signed in December 2006.

“We continue to build on our extensive expertise in this sector having acted on the acquisition of Murraylink electricity infrastructure assets, the only other asset of this type sold in recent years,” said founding partner of CP&S Mark Pistilli.

Murraylink connects the South Australian and Victorian electricity grids. APA bought Murraylink HQI Australia Pty Limited and SNC-Lavalin Investment Australia Pty Ltd, the owners of the Murraylink electricity transmission, for $153 million in March last year. This included the 180-kilometre underground high voltage direct current cable interconnector between Berri in South Australia and Red Cliffs, near Mildura, in Victoria.

This purchase was the first significant purchase by APA of a non-gas transmission asset.

Partner Jason Mendens led a team of lawyers on the deal including Guy Miller, Fiona Lovell and Andrew Henscher.

There are also interconnectors linking NSW and Victoria, and Victoria and Tasmania, allowing those states to participate in the national electricity market.

“DirectLink’s transmission assets are recently built, long-life assets with low staff and maintenance requirements. APA will use the skills and synergies gained from managing Murraylink to achieve cost savings,” said APA managing director Mick McCormack.

“Our experience in running Murraylink and now DirectLink provides us with scope to consider pursuing similar assets which meet our investment criteria.”

At the end of last year, National Grid Australia — the owner of the latest interconnector to be set up, and the longest in the world, the Bass Link between Tasmania and Victoria — said it would sell the $780 million interconnector to focus more on electricity and gas businesses in the US and the UK.

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

CP&S plugs into grid deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
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'...
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...
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 & ...