King & Wood Mallesons Advises on $1.3 Billion Australian Pipeline Takeover
King & Wood Mallesons is advising Australian pipeline operator APA Group on its proposed $1.3 billion takeover of fellow natural gas distributor Envestra Ltd.
APA, the largest nat-gas distributor in Australia, already owns a 33 percent share of Adelaide-based Envestra and is offering $1.04 a share for the remaining majority stake. The deal will allow APA to diversify and expand its national pipeline network, according to a company statement.
An independent board committee at Envestra has agreed to put the proposal before shareholders. If approved, the deal is expected to close next June.
King & Wood Mallesons Melbourne partner Stephen Minns and Sydney partner Dominic Bortoluzzi are advising APA on the deal.
Johnson Winter & Slattery Sydney partner John Keeves and Adelaide partner Gordon Radford are representing Envestra.