Johnson Winter Slattery (JWS) is pleased to have advised Utilities Trust of Australia (UTA), a Morrison-managed fund, on its acquisition of Sydney’s only major rainfall-independent source of drinking water, the Sydney Desalination Plant (Plant).
UTA increased its existing stake to secure 100 per cent ownership of the Plant through its acquisition of Ontario Teachers’ Pension Plan’s 60 per cent interest. This transaction strengthens UTA’s extensive portfolio of critical infrastructure assets across Australia and the United Kingdom.
The Plant supplies drinking water to millions of homes and plays a critical role in Sydney’s water security. It is capable of supplying up to 250 megalitres of water per day, approximately 15 per cent of the city’s average drinking water needs. JWS advised UTA on all aspects of the transaction, including due diligence, acquisition process and structuring, transaction documentation, regulatory clearances, financing and transition planning.
The JWS team was led by transactions Partner Simon Haddy and supported by Associates Katie Read and Natalie Fenwick. Finance Partner Charlie Detmold and Associate Amira Enayatzada, and regulatory Partner Sar Katdare (Head of Competition & Antitrust) and Senior Associate Mei Gong also provided key support. Specialist assistance on tax matters was provided by Partner Matthew Shanahan.
Commenting on the transaction, Simon Haddy said, “We are delighted to have supported Morrison and UTA on this significant transaction, which reinforces UTA’s position as a leading investor in essential infrastructure.”
About Johnson Winter Slattery
JWS is a leading independent Australian law firm of more than 450 people, including 80+ partners across Sydney, Melbourne, Adelaide, Canberra, Brisbane and Perth. The firm is engaged by major corporates and investment funds on their most challenging transactions and disputes.
Key legal contacts
Simon Haddy
Charlie Detmold
Sar Katdare
Matthew Shanahan
Media contact
Angela Welsh
Marketing & Communications Manager
T: +61 2 9392 7454 | M: +61 414 281 902
E: angela.welsh@jws.com.au
