Hall & Wilcox has advised Spirit Super, an Australian industry super fund, on its joint acquisition, with US infrastructure investor Stonepeak, of GeelongPort.
GeelongPort is Victoria’s second largest port. It manages more than $7 billion worth of trade annually, handling nearly 12 million tonnes of cargo and more than 600 vessel visits each year.
Spirit Super holds a 30% stake, with Stonepeak, on behalf of its managed funds and accounts, holding a majority 70% stake.
As Spirit Super’s independent legal advisors, Hall & Wilcox provided guidance on the consortium and transaction documents.
The team was led by Partners Michelle Eastwell and Adrian Verdnik, assisted by Senior Associate Liam Closey and Lawyer Charlie Renney. The team was supported by Partners Mark Inston and David Cooper, Special Counsel Jeanette Lui and Senior Associate Angelica Huang who advised on the syndicated finance documents and other finance arrangements, while Partner Philip Hopley provided specialist insurance advice.
Michelle Eastwell said, ‘We are delighted to have advised Spirit Super in connection with this important acquisition. We congratulate Spirit Super on this transaction, which provides Spirit Super’s members a direct stake in one of Australia’s largest regional infrastructure assets.’
Adrian Verdnik added, ‘The superannuation industry is such an important component in building and maintaining infrastructure in Australia. It is really satisfying to work with funds that are focused on investment in these valuable assets in the communities in which their members live and work.’
Spirit Super Acting General Manager, Legal & Compliance, Ann Swain said: ‘We thank the Hall & Wilcox team for their hard work, advice, assistance and dedication to this project. Our team has been impressed by their efforts and support, which helped us to get this deal completed.’
Hall & Wilcox is a leading independent law firm. We have more than 1000 people, including over 120 partners, working across eight offices. We build partnerships with and service corporate, public sector and private clients, both Australian-based and those offshore doing business in Australia.
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