Clifford Chance and Freehills seal gas sale

Clifford Chance and Freehills have advised on the restructure and sale of 80 per cent of APA Group's Queensland gas distribution network.The transaction, valued at $526 million, has seen the…

Lawyers Weekly • 15 December 2011 • Big Law

Clifford Chance and Freehills have advised on the restructure and sale of 80 per cent of APA Group's Queensland gas distribution network.

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The transaction, valued at $526 million, has seen the network transferred into a new APA minority-owned investment vehicle, with Marubeni Corporation and RREEF to each own 40 per cent of that vehicle.

Clifford Chance Sydney partner Richard Graham said his team helped APA "to acquire the operating rights to this asset five years ago" and is happy to have assisted the group to "restructure their holding and, subsequently, release value in the asset for new opportunities".

"I expect to see more transactions of this type in the New Year. In uncertain markets, regulated infrastructure assets offer consistent and relatively stable returns, and are popular with investors and lenders alike," said Graham.

Graham was assisted by special counsel Jane Ann Gray, and associates Owen Thomas and Zealie Ainsworth.

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