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Blakes deal in to pipeline
Blake Dawson Waldron has continued its work for Alinta, this time advising on the completion of a complex transaction for the acquisition of the Dampier to Bunbury Natural Gas Pipeline (DBNGP)…
Lawyers Weekly
Blake Dawson Waldron has continued its work for Alinta, this time advising on the completion of a complex transaction for the acquisition of the Dampier to Bunbury Natural Gas Pipeline (DBNGP) in WA.
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The DBNGP Consortium, comprising Alinta (20 per cent), Alcoa (20 per cent) and Diversified Utility and Energy Trusts (60 per cent) lodged a $1.86 billion bid for the pipeline, which was accepted by the receivers and managers in September this year.
The acquisition by the DBNGP Consortium will see Alinta Network Services, a 100 per cent owned subsidiary of Alinta, provide operational and maintenance services for the 1,530km pipeline.
Blakes also acted for the Consortium, advising on shipping contracts and other contractual arrangements for the DBNGP and in relation to competition issues and ACCC approval.
This work provided the basis for the “recommercialisation” of the DBNGP.
“This transaction covered a number of complex areas and required a wide range of expertise and resources from across the firm. These areas included the terms of Alinta’s interests in the Consortium, the debt financing, the acquisition, the operating services agreement and related industrial relations issues and the pipeline and shipper documents,” Blakes partner and team leader Jon Carson said.
In an ASX statement, CEO of Alinta Bob Browning said together with assistance from the WA Government, the completion of the sale meant that investment in urgently needed capacity expansion of the pipeline could go ahead. This will involve at least $400 million over the next four years.
