King & Wood Mallesons acts for Airtrain Holdings in sale to UK pension fund

King & Wood Mallesons has acted for Airtrain Holdings in its sale to USS Axle, by way of three interconditional schemes of arrangement, for AUD109.55m (£76m).

Airtrain is the holding company of Airtrain Citylink, which owns and operates the Brisbane Airport Rail Link (BARL) connecting Brisbane’s international and domestic airports to more than 140 railway stations within the Queensland Rail network.

USS Axle is a wholly owned subsidiary of the UK’s Universities Superannuation Scheme, a £34bn superannuation fund.

The King & Wood Mallesons team, based in Brisbane, was led by corporate partners John Humphrey and Stefan Luke, together with senior associate Rhys Casey and solicitors Erin Hanson and Joshua Duffy. Justin McDonnell, Natalie Caton and Ashlee Campbell from the law firm’s dispute resolution team assisted with the court approvals of the schemes.