Hogan Lovells and Linklaters have advised on a major investment by Citi Infrastructure Investors in DP World’s Australian-based terminals business.
DP World has sold a 75 per cent stake in its Australian operation, which includes container terminals based in Adelaide, Brisbane, Fremantle, Melbourne and Sydney, for a sum of US$1.5bn (£970m) to Citi Infrastructure Investors (CII) and one of CII’s major investors.
The Dubai-based ports operator was advised by Linklaters’ corporate partner Nick Garland, infrastructure partner Sarosh Mewawalla, and managing associate James Coleman.
Garland commented: “This was a chunky multi-party deal with the added complexities of cross practices and jurisdictions. We were lucky to have great teams at both advisors and clients which made it a fun and rewarding deal to do in the run up to Christmas.”
As part of the transaction DP World will also enter into a long-term management services agreement to continue to provide management services to the terminals, which are thought to handle approximately half of all containers moving in and out of Australia.
Hogan Lovells advised new client Citi Infrastructure Investors, with a multi-disciplinary team led by corporate partner Ben Higson.
DP World’s legal team was led by Ian Le Pelley, with Australian advice provided by Freehills.