Hogan Lovells and Linklaters have advised on a major investment by Citi Infrastructure Investors (CII) in DP World’s Australia-based terminals business.
DP World has sold a 75 per cent stake in its Australian operation, which includes container terminals in Adelaide, Brisbane, Fremantle, Melbourne and Sydney, for a sum of $1.5bn (£970m) to CII and one of its 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 advisers and clients, which made this a fun and rewarding deal to do in the run-up to Christmas.”
As part of the transaction DP World will enter into a long-term agreement to continue to provide management services to the terminals, which are thought to handle approximately half of all the containers moving into and out of Australia.
Hogan Lovells advised new client CII with a team led by corporate partner Ben Higson.
DP World’s legal team was led by Ian Le Pelley, with Australian advice provided by Freehills.