Largest ever infrastructure and utilities M&A transaction in ANZ*
AustralianSuper and IFM’s acquisition of a 50.4% interest in the 99-year lease of Ausgrid for $A16.2 billion.
Ausgrid is the electricity distribution network service provider that owns, operates and manages distribution and sub-transmission assets across Sydney, the Central Coast and the Hunter regions.
A consortium comprising of IFM Investors and AustralianSuper entered into a Sale and Purchase Agreement with the NSW Government.
Macquarie Capital was the sole financial adviser to the bidding consortium, raising around $A13 billion of fully committed bank debt and leading the co-ordination and development of a detailed five year Business Plan.
Team mobilised fast
As the largest dedicated infrastructure team in the Australian market, a large team was mobilised with very little notice
Offer submitted within four weeks
Demonstrating the team’s strength and flexibility, a fully committed offer was submitted within four weeks of being appointed
Proceeds imply an enterprise value of $A20.7 billion for 100% of Ausgrid
* Dealogic, any ANZ involvement announced transaction.