Deal: Mitsubishi Corporation, Innovation Network Corporation of Japan and JGC Corporation (sellers) have been advised on their sale of the TRILITY Group Pty Ltd (TRILITY) to Beijing Enterprises Water Group (BEWG).
Key players: The Ashurst cross-border team was led by partners Natsuko Ogawa (corporate) and Tanya Denning (resources and utilities).
Deal significance: In this transaction, Ashurst advised the sellers and TRILITY on the sale process, vendor legal due diligence, the negotiation of the transaction and the process for obtaining third-party consents.
The transaction was also subject to Foreign Investment Review Board (FIRB) approval and was completed on 24 April 2018.
TRILITY is described as a leading private and independent water utility service provider, which operates across Australia and New Zealand’s municipal and industrial sectors, according to a statement from Ashurst.
“It operates a significant number of Australian waste water and treatment plants, including the Adelaide Desalination Plant, mine-site water treatment operations for companies including Energy Resources of Australia, and irrigation systems in South Australia and Victoria,” the global firm noted.