Australian Utilities Trust increases stake in ElectraNet

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Leading independent law firm Johnson Winter & Slattery has advised Australian Utilities Trust (AUT) on the acquisition of a further 33.5% stake in ElectraNet Pty Ltd from YTL Power International Berhad (YTL).

AUT is a specialist infrastructure investment vehicle, whose underlying owners include Utilities Trust of Australia, The Infrastructure Fund and Sunsuper Superannuation Fund. Under the agreement, AUT will acquire the additional stake for $1.026 billion, bringing its total ownership of ElectraNet up to approximately 53.4%.

ElectraNet owns and operates the high voltage electricity transmission system throughout South Australia, transmitting power from regional generators and interstate sources over long distances to metropolitan and regional areas including large, directly-connected industrial customers. In addition to its regulated activities, ElectraNet is the owner and operator of an extensive unregulated, contracted portfolio of connection and transmission assets.

The team was led by Johnson Winter & Slattery Partner Simon Haddy, who worked alongside Associate Sascha Silberstein. Partner Sar Katdare advised on the regulatory aspects of the transaction and Partner Craig Wappett advised on the finance aspects. The team has built a strong reputation advising funds and financial sponsors investing in Australian infrastructure.

Simon Haddy said “We are delighted to have advised such a highly credentialed group of investors in the infrastructure sector, particularly in connection with such a strategically significant transaction relating to this high quality asset.”

About Johnson Winter & Slattery

Johnson Winter & Slattery is an independent national Australian law firm with over 70 partners and offices across Australia. We advise major Australian and international corporations and investment funds on their most challenging transactions and disputes across Australia and surrounding regions. Working closely with clients, knowing their business, and appreciating their objectives, we tailor our approach to deliver optimal commercial outcomes.

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