Allens has advised on the sale of a 74.25% interest in Queensland Airports Limited via a competitive sale process.
The firm acted as consortium counsel for Macquarie Asset Management-managed The Infrastructure Fund, State Super and Australian Retirement Trust on the sale of their combined interest to a consortium comprised of KKR and the Skip Essential Infrastructure Fund.
Allens advised on all elements of the sales process and transaction, undertaking due diligence and providing regulatory and strategic process advice, through to the negotiation and signing of transaction documentation.
'We are delighted to have advised MAM, ART and State Super on this landmark transaction, which follows significant investment by the consortium in what are critical infrastructure and important tourism assets,' said lead partner Chris Blane.
'This deal showcases the investment appeal of core Australian infrastructure assets. Once again, we are seeing private capital holding the reins as custodians of some of Australia's most important transport assets.'
'The sale also represents a potential reawakening of M&A activity for Australian airports and infrastructure following some challenged sales processes this year and last.'
'We offer our warm congratulations to the MAM, ART, State Super and QAL teams who, alongside financial advisers Barrenjoey and Macquarie Capital, worked to deliver a fantastic outcome.'
Emin Altiparmak added 'our role on this matter once again demonstrates our strength in the sector, having advised on major recent airport transactions in Australia including our role for Sydney Airport on its response to the A$23.6 billion takeover proposal from the GIP and IFM-led consortium.'
QAL's network, which includes Gold Coast, Townsville, Mount Isa and Longreach airports, plays an important role connecting Queenslanders to the rest of Australia and beyond, servicing more than 40 domestic and international routes and welcoming more than 8 million passengers each year.
