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Aurizon acquires One Rail Australia for $2.35bn
Aurizon’s $2.35 billion acquisition of One Rail Australia was financed by a syndicate of lenders represented by Gilbert + Tobin.
Keonia Cole
Gilbert + Tobin has helped Australian freight rail transport firm Aurizon finance the purchase of rail freight operator company One Rail Australia (ORA).
Deal: Gilbert + Tobin has represented the lending syndicate in the $2.35 billion financing of Aurizon’s acquisition of One Rail Australia.
Value: $2.35 billion
Area: Mergers and acquisitions
Key players: The team was led by banking and projects partner Simon Lynch and John Schembri and special counsel Rachel Jones, with assistance from consultant Abby McIntosh, lawyer Christian Smolders and graduate John Edmunds.
Deal Significance: The transaction involved the Aurizon group receiving additional financing in addition to its existing debt facilities, as well as the introduction of standalone debt facilities for the divested “East Coast Rail” haulage business in NSW and Queensland. Gilbert + Tobin advised both syndicates on the transaction.
Commenting on the deal, projects Mr Lynch stated: “It was a privilege to work with a sophisticated syndicate of lenders on this landmark transaction. A highly complex deal, involving an ACCC clearance process and multiple consents, we are delighted to have assisted in its successful completion.
“The acquisition is transformative for Aurizon, as it expands into new geographies and markets. We congratulate them on what is a milestone for Australian infrastructure investment.”
