Gamuda's acquisition of the Australian Transport Projects (ATP) business and assets from Downer EDI Works Pty Ltd (Downer) and VEC Civil Engineering Pty Ltd (VEC) through its Australian subsidiary DT Infrastructure Pty Ltd, completed on 20 June 2023. The deal sees Gamuda take control of ATP, its 1,000 employees and $2 billion project pipeline.
Gamuda was supported by a multidisciplinary team from MinterEllison, led by Malaysian Desk Lead Partner, Ker Wei Tiam.
The transformational transaction is a natural extension of Gamuda's strategy to expand its presence in the Australian construction and infrastructure market. The projects acquired will add to the already significant suite of projects currently being undertaken by Gamuda's wholly owned Australian subsidiary, Gamuda Engineering (Australia) Pty Ltd. These include the $2.16 billion Sydney Metro West - Western Tunnelling Package and the $1.35 billion Coffs Harbour Bypass contract.
"The completion of this deal marks a major achievement for Gamuda's expansion into the Australian market. With the incorporation of local expertise in rail and transport projects, Gamuda will be able to leverage international experience and innovative solutions as a comprehensive infrastructure provider in Australia" said Ker Wei Tiam.
The operations of Downer and VEC include the construction and maintenance of roads and rail infrastructure, structural remediation and the construction of bridges and structures. Key acquisitions for Gamuda in the transaction include intellectual property rights, a significant employee base of some 1,000 people, and interests in joint venture agreements and projects, all of which are key to the seamless continuation of the transport projects business.
MinterEllison advised on all aspects of the transaction, including undertaking purchaser due diligence, negotiating the asset sale agreement and other key transactional documents including a transitional services agreements, intellectual property licence deeds, services deeds and subcontracting terms and conditions.
The MinterEllison team included support from the firm's FIRB, Projects Infrastructure and Construction, Environmental & Planning, Finance, Competition, Intellectual Property, Tax, Technology and Employment teams.
"We were able to provide specialist legal assistance to manage the complexities of the deal through our multi-disciplinary approach to legal and consulting services," said Ker Wei Tiam.
