Infrastructure

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.

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Sector	Infrastructure
Sub-sector	Energy
Location	Australia

Opportunity

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.

Approach

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.

Outcome

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

$A20.7 billion

Proceeds imply an enterprise value of $A20.7 billion for 100% of Ausgrid

* Dealogic, any ANZ involvement announced transaction.

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Macquarie Capital

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