With the deal, John Laing increases its total equity commitment to 95%
Allens and King & Wood Mallesons (KWM) have confirmed their roles in the deal that sees Aware Super sell off its 62.5% majority stake in the Sydney Light Rail Project to infrastructure investor John Laing.
By picking up the stake, John Laing now has a 95% equity commitment to the project and bolsters its ownership in the PPP that manages the Sydney Light Rail network. The transaction is set to be finalised within the year once standard terms and conditions are met.
“The development and sale of the project is another prominent example of the significant role played by private capital in realising key infrastructure opportunities in Australia”, Allens lead partner Chris Blane said.
KWM special counsel Gareth Howe added that the Sydney Light Rail is “a critical project for Sydney’s infrastructure that continues to provide benefits both to the community and Australia’s net zero ambitions”.
Howe worked with partners Mark Upfold and Claire Rogers on the deal, as well as with senior associate Matt Hundt.
Meanwhile, the Allens team led by Blane tackled all aspects of the sale on Aware Super’s behalf. Blane worked with managing associate James Nguyen and associate Chris Yuan from the M&A and capital markets team.
Also pitching in were partner Ellen Thomas and associate Quynh McGrath (tax) and senior associate Isabel Burraston (projects). The team collaborated with Aware Super’s team, which included key members Jiren Zhou, Tina Liu, Thomas Li and Zoe Barton.
