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Firm advises on acquisition of WA natural gas pipeline
Allens has advised an investment holdings group on a $205 million acquisition of interest in the Dampier to Bunbury Natural Gas Pipeline (DBP).
Melissa Coade
Firms: Allens (DUET Investment holdings Limited); Minter Ellison (Alcoa of Australia)
Value: $205 million
Area: M&A/Banking and finance
Key players: Allens corporate partner Marc Kemp (pictured) led the team advising on the deal, with senior overseas practitioner James Kanabar, lawyer Patrick Boyle and graduate Antonia Ross from Sydney and resources and infrastructure partner Mark McAleer from Perth.
Deal significance: The deal gives DUET complete ownership of a major piece of Australia’s energy infrastructure. Following the acquisition, the company’s aggregate ownership of DBP has increased from 80 to 100 per cent.
DUET CEO David Bartholomew said the acquisition further simplifies the company’s group structure.
“We would like to thank Alcoa for their contribution to the management of DBP’s operations during their period of ownership and we look forward to maintaining our close relationship for many years to come,” Mr Bartholomew said.
Marc Kemp, the lead partner advising on the deal, said Allens was “delighted to have worked with an important client on an acquisition”.
