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Clifford Chance has advised the lenders to a consortium led by Morrison & Co, which revolves around the acquisition financing of a 49 per cent stake in Telstra’s InfraCo Towers business.
Firm: Clifford Chance (The consortium, which comprises Future Fund, Commonwealth Superannuation Corporation, and Sunsuper).
Value: $2.8 billion.
Area: Banking and finance.
Key players: The Clifford Chance team advising the lenders was led by Australian managing partner Richard Gordon, together with partners Chad Bochan and Nadia Kalic. They were supported by senior associates Victor Greenstreet and Dean Bao, associate Madeleine Burrill, and graduates Molly Tredinnick and Max Beavis.
Deal significance: As per a statement provided by Clifford Chance, Telstra will use the proceeds from the investment – which values the business at $5.9 billion in total – for investment in mobile connectivity in regional Australia, in addition to returning proceeds to Telstra’s shareholders.
“We were delighted to support the lenders to the Morrison & Co consortium on this high-profile transaction, which represents one of the largest infrastructure transactions in Australia in recent years,” Australian managing partner Richard Gordon said.
“The deal demonstrates Clifford Chance’s leading position in the project and infrastructure space. We congratulate the parties on reaching a successful close of the transaction.”
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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