Gilbert + Tobin today announced it is advising Qube as part of a consortium on the proposed joint acquisition of Asciano Limited for $9.05 billion. The consortium consists of GIP, CPPIB, Brookfield infrastructure and a number of sovereign wealth funds. Gilbert +Tobin is the lead advisor to the consortium for ACCC competition clearance. Allens is corporate counsel to the consortium as a whole.
The acquisition is proposed to occur by way of a scheme of arrangement of Asciano and a parallel, and inter-conditional sale of its terminals business to a joint venture between Qube and Brookfield and its bulk, auto services and ports services businesses to Brookfield.
Partner Andrew Bullock leads the team advising Qube on the corporate aspects of the transaction with associate Alastair Corrigall assisting Qube on its related capital raising. Partner Luke Woodward is advising the Qube consortium on the complex competition law aspects of the transaction. Partner John Schembri is advising on finance arrangements for Qube and the Qube/Brookfield terminals joint venture.
The transaction remains subject to a review by the ACCC.
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