Hogan Lovells Advises Citi Infrastructure Investors on US$1.5bn Acquisition

LONDON, 14 MARCH 2011 - Hogan Lovells advised Citi Infrastructure Investors, a leading global infrastructure fund under the Citigroup brand, on its US$1.5bn acquisition, together with one of its major investors, of a majority stake in DP World's Australian shipping terminal operator businesses.  The deal, which was announced on 22 December, has now closed (11 March).

The five container terminals in question, at Adelaide, Brisbane, Fremantle, Melbourne and Sydney, handle approximately half of all containers moving in and out of Australia. 
As part of the transaction, DP World also enters into a long term management services agreement to continue to provide management services to the terminals.

The transaction is believed to be the first large-scale acquisition by an infrastructure fund of container terminals since the credit crunch and as such is highly significant in the infrastructure M&A market.

The Hogan Lovells team was led out of London by corporate partner Ben Higson, with assistance from Karla Dudek (of counsel), Amanda Onions (senior associate) and Matteo Matteucci and Michael Bloch (associates) for corporate matters; Paul Joukador (partner) and Oliver Wilson and Rob Evans (associates) for commercial matters; Andrew Gallagher (partner) for financing matters; Erik Jamieson (partner) and Bicrom Das (associate) for funds matters; Hugh Lyons (partner) and Nathan Searle (senior associate) for sovereign immunity and enforceability matters; Ed Bowyer (partner) for employment matters; Matthew Levitt (partner) and Guido Dolara (associate), both in Brussels, and Adrian Emch (of counsel), in Beijing, for antitrust matters; Stephen York (of counsel), in Dubai, for arbitration matters; Nick Parden (partner), Warren Thomson (of counsel) and Erin Kiem (associate), all in Dubai, for UAE/Dubai matters; William Intner (partner), in Baltimore/DC, for US matters; and various others across the global firm.

Hogan Lovells partner Ben Higson said:

"We were delighted to have had the opportunity to advise our new client Citi Infrastructure Investors on this transaction and  have very much enjoyed working with its legal and commercial teams. This is obviously a fantastic and market-leading international M&A transaction to be involved in.  It is also a working example of our global offices and practices working together as one team so as to achieve the best outcome for our client."

Mallesons Stephen Jaques provided Australian law advice to Citi Infrastructure Investors.


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