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ACCIONA makes first Australian infrastructure acquisition
Two firms have advised on a $197 million deal which saw ACCIONA acquire an Australian engineering and construction company.
Emma Musgrave
Firms: Allens (ACCIONA); Herbert Smith Freehills (Geotech)
Value: $197 million
Area: M&A
Key players: The Allens legal team is comprised of M&A/corporate partner Paul Quinn, M&A/corporate senior associate Julian Barendse, and M&A/corporate associates Adam Laidlaw and Elysia Longo.
The team also includes projects partner David Donnelly (pictured), projects associate Magda Kucharska, employment partner Simon Dewberry, employment senior associate Chloe Wilton, banking and finance partner Michael Ryan and banking and finance senior overseas practitioner Alex Tonkin.
Deal significance: Geotech is an Australian engineering and construction group.
The transaction between Geotech and ACCIONA includes a cash payment of $197 million and a 17.6 per cent stake in a new subsidiary ACCIONA Geotech Holding for three key Geotech executives, according to a statement from Allens.
The firm noted that this deal represents the first infrastructure acquisition for ACCIONA in Australia.
“We congratulate ACCIONA on this strategic investment which will considerably expand their reach in the Australian market,” said Allens partner David Donnelly.
“For Allens, it adds to a busy pipeline in the infrastructure M&A space and highlights the value that we can add by combining our in-depth understanding of the infrastructure sector with our market-leading M&A capability.
“This deal is part of a broader growth in demand in Australia for infrastructure services, which is estimated to reach $125 billion over the next decade,” he said.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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