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BigLaw firm Johnson Winter & Slattery has advised Magnetic Rail Group (MRG) on the acquisition of One Rail Australia’s East Coast Rail (ECR) business from Aurizon.
Firm: JWS (Magnetic Rail Group)
Aurizon reported, JWS said, that after expected completion adjustments, it will receive cash proceeds of approximately $425 million.
Area: Merger and acquisition
Value: Approximately $425 million (according to Aurizon)
Key players: The JWS team was led by partners Bruce Adkins, Stuart Clague, and Simon Haddy, who were assisted by special counsel Jarrod Wilksch and Tom Barrett and associate Haerim Nam.
Deal significance: Speaking about the acquisition, Mr Adkins said: “We were delighted to assist M Infrastructure and ABL with this high-profile and high-value acquisition. We look forward to working with the buyers as they grow the ECR business.”
Completion of the sale of the ECR business is subject to approval by the Australian Competition and Consumer Commission (ACCC), the firm noted.
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Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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Jerome Doraisamy
