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KWM advises TransGrid on funding for NSW/SA interconnector
KWM is delighted to have advised TransGrid on all aspects of its funding for Project EnergyConnect, the new 900km interconnector between New South Wales and South Australia. This includes a hybrid debt deal with the Clean Energy Finance Corporation (representing the green bank’s biggest ever deal), as well as a broader funding package. The project is anticipated to unlock the South Australian portfolio of renewables generation, providing a critical link to the load in New South Wales.
The KWM team advising TransGrid across the package included Tim Ma, Brendan Smith, Jo Dodd, Chloe Delahunt-Devlin, Lincoln Smith and Claudia Martin.
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KWM guides cornerstone investor in Grab SPAC merger – largest transaction of its type in history
King & Wood Mallesons is delighted to have helped a cornerstone investor in Grab navigate the app’s landmark deal to merge with Altimeter Capital’s special purpose acquisition company (SPAC).
The $40bn valuation for Grab sets a record for the largest SPAC merger in history. In addition to the merger, the ride hailing, food-delivery, digital economy and fintech super app will receive $4.5bn in cash, of which approximately $4bn will come from an upsized PIPE offer.
KWM partners Jake Robson and Nick Davies in Singapore and Laura Luo in the US led a deal team which advised on all aspects of the transaction, leveraging the firm’s specific expertise in SPAC-related deals.
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King & Wood Mallesons advises on WestConnex’s AMTN Programme and A$650 million issuance
King & Wood Mallesons (“KWM”) has advised WestConnex on the establishment of an Australian Medium Term Note (“AMTN”) programme and issuance. The issuance was a 10-year fixed rate senior secured bond for $650m – one the largest 10-year issuances in the domestic market’s history. Pricing was completed on 23 March 2021 and settlement of the notes occurred on 31 March 2021. The notes will rank equally with WestConnex’s existing senior secured debt.
The KWM team advising WestConnex was led by Partners Tim Ma and Claire Rogers, and supported by Senior Associate Amy Maguire, and Solicitors, Claudia Martin and Lily Rayment.
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KWM advises CPE Capital on sale of Gourmet Food Holdings to Mondelez International
King & Wood Mallesons (KWM) has advised long term client CPE Capital on the sale of Gourmet Food Holdings, an Australian premium cracker and chilled seafood manufacturing and distribution business, to Mondelez, a global snack food company.
The KWM team was led by Private Equity Partner Lee Horan, supported by Senior Associate Anthony Boogert, Solicitor Emily Campbell and Law Graduate Iris Lo.
Commenting on the transaction Lee Horan said:
“We are very pleased to have been able to guide CPE Capital on both its investment into Gourmet Foods and ultimate exit which has produced a fantastic outcome for CPE Capital and the other Gourmet Foods shareholders.”
Print
The outgoing chair of the Australian Securities and Investments Commission (ASIC) James Shipton has confirmed retaining a phalanx of senior lawyers to defend his position in the face of the issues raised last year by the Australian National Audit Office (ANAO) about payment for his personal tax advice.
During a recent hearing of the Parliamentary Joint Committee on Corporations and Financial Services, Shipton confirmed he had retained the services of two Queen’s Counsels and two other lawyers with the objective of clearing his name with respect to issues raised by the ANAO over the payment of expenses.
Under questioning for Labor backbencher, Deborah O’Neill, Shipton insisted that rather than being stood aside last year by the Treasurer, Josh Frydenberg, he had offered to stand aside pending the outcome of an investigation into his expenses and those of his former ASIC deputy chair, Daniel Crennan QC.