KWM drives winning $9.3bn bid for WestConnex

A consortium is buying a majority stake of the major motorway

KWM drives winning $9.3bn bid for WestConnex

King & Wood Mallesons (KWM) was the law firm of choice for the winning bid by the Sydney Transport Partners consortium for a majority of WestConnex.

The consortium, led by toll road networks operator Transurban, successfully bid $9.3bn to acquire 51% of the major motorway in Sydney. AustralianSuper, Canada Pension Plan Investment Board, and Abu Dabhi’s Tawreed Investments are part of the consortium.

The consortium was selected after it was granted clearance by the Australian Competition and Consumer Commission.

The deal showcases the strength and depth of the KWM client offering across all relevant practise areas, said partner Peter Doyle, who jointly led the KWM team with partners Claire Rogers, Andrew Monotti, David Eliakim, Ros Anderson, James Forrest, Chris Dynon, Rebecca Finkelstein, Kristen Bowe, Malcolm Brennan, and Murray Kellock.

The deal is strategically important for the New South Wales government and the consortium, Doyle said.

The KWM team also included special counsel Andrew Phillipson; senior associates Patrick Atkinson, Amy Maguire, and Clifford Sandler; and solicitors John Arthur, James Corrigan, Fiona Ho, Lauren Murphy, Josh Saville, and Alexandra Smith.

Transurban was also separately represented by KWM partner Mark Upfold, supported by senior associate Gareth Howe and associate Emily Andrews.

Transurban will undertake a $4.2bn fully underwritten pro-rata entitlement offer and a $600m private placement to fund the purchase. For the transaction, KWM is fielding an equity capital markets team headed by partners Joseph Muraca and Will Heath, with support from senior associate Jack Hill.

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