Allens has advised Aware Super on the sale of its 62.5% interest in the Sydney Light Rail Project to KKR-owned infrastructure investor John Laing.
The deal will see John Laing become the largest investor in the Sydney Light Rail network's public-private partnership, increasing its ownership stake to 95%.
Allens advised on all aspects of the sale, having previously advised on the refinancing of the project in 2021.
'We are delighted to have advised Aware Super on the sale of this critical transport infrastructure project, which has played an important role in transforming and reinvigorating Sydney's CBD,' said lead Partner Chris Blane.
'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.'
'It was a pleasure to work alongside the Aware Super team on the process. Our congratulations to key members of the Aware Super team Jiren Zhou, Tina Liu, Thomas Li and Zoe Barton on their role in delivering this outstanding outcome. We wish John Laing well in the ongoing successful operation of the asset.'
Allens' involvement in the transaction follows its role advising Aware Super on its acquisition of a further stake in Australian Registry Investments, operator of NSW Land Registry Services, earlier this year.
The Sydney Light Rail sale is expected to finalise in late 2024.
