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YTL Power sells ElectraNet stake
YTL Power has sold its stake in ElectraNet to Australian Utilities Trust.
Naomi Neilson
Firm: Corrs Chambers Westgarth (YTL Power International Berhad)
Area: Energy.
Value: $1.03 billion.
Key players: The deal was led by head of corporate Sandy Mak and partner Alexandra Feros. They were supported by head of banking and finance Rommel Harding-Farrenberg and special counsel Annabel Doneley and Megan Russell.
Deal significance: YTL, a Malaysia-based multi-utility group active across key segments of the utilities industry, has sold its stake to AUT, a specialist infrastructure fund with an existing stake in ElectraNet. AUT’s unitholders include Utilities Trust of Australia, The Infrastructure Fund and Sunsuper Superannuation Fund.
Commenting on the deal, Ms Mak said: “We were pleased to advise our client YTL on its successful sale process. As a competitive and complex sale involving a significant infrastructure asset, the combined expertise of the Corrs team was crucial to securing this result.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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