KWM acts on $7.3bn DUET Group acquisition

The firm advised a consortium of HK-headquartered companies looking to acquire the ASX-listed energy company

KWM acts on $7.3bn DUET Group acquisition
King & Wood Mallesons has advised a trio of Hong Kong-headquartered firms on their proposed $7.3bn acquisition of ASX-listed energy company DUET Group.

The consortium, comprising Cheung Kong Property Holdings Limited, Cheung Kong Infrastructure Holdings Limited and Power Assets Holdings Limited, aims to execute the acquisition by way of schemes of arrangement and a trust scheme.

The schemes are expected to be implemented by mid-May 2017, subject to Foreign Investment Review Board approval and relevant shareholder approvals.

The Australian KWM team was led by projects partner Louis Chiam, M&A partner David Eliakim, M&A senior associate Daniel Natale and projects senior associate Jonathan Mitchell.

The Hong Kong KWM team was led by partners Hayden Flinn and John Baptist Chan and senior associate Amy Chan.

DUET’s portfolio includes power and gas distribution networks in Victoria and South Australia, and Western Australia's gas transmission line the Dampier to Bunbury Pipeline. 

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