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Sydney monorail sells to NSW Govt

Sydney monorail sells to NSW Govt

Sydney’s monorail and light rail have been sold to NSW state with the help of Freehills.

Firm: Freehills (Australian Infrastructure Fund (AIX) and its co-investors)

Deal: Australian Infrastructure Fund’s divestment of Metro Transport Sydney (MTS), the owner of Sydney’s monorail and light rail.

Area: Corporate

Value: $19.8 million

Key players: Freehills partner Simon Haddy (pictured) led the Freehills legal team, supported by senior associate Robert Feiner and lawyer Jason Jordan.

Deal significance: The deal, which completed on 23 March, involved the sale of MTS to NSW for A$19.8 million, plus distributions. “We have been working closely with AIX on the sale of a number of its non-core assets as the fund continues to shift its focus to the airports sector,’ said Haddy. Freehills also advised AIX on the recent divestment of its stake in the Port of Geelong, which sold for $25 million, plus distributions.

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