ICG’s Winning Bid For Enwave Australia

Johnson Winter & Slattery advised Infrastructure Capital Group.

Johnson Winter & Slattery (JWS) has advised Infrastructure Capital Group (ICG) on its successful bid to acquire Enwave Australia from Brookfield Infrastructure Partners.

ICG will buy Enwave Australia under its Energy Infrastructure Trust, one of Australia’s largest portfolios of energy assets. The transaction does not require any regulatory approvals and financial close is expected to occur towards the end of 2019.

Enwave Australia owns Tas Gas Networks which comprises an 837km network of gas pipelines across Tasmania and is one of the youngest gas distribution networks in Australia. Tas Gas is also the largest gas retailer in Tasmania, supplying gas to more than 14,000 industrial, commercial and residential customers.

In addition to Tas Gas, Enwave Australia owns and operates a district energy and utility networks business which develops, builds, owns and operates multi-utility precincts nationally. This currently includes precincts in Central Park, NSW, Mascot, NSW and Tonsley, SA. Enwave Australia owns the utility network at these sites which supplies thermal energy, electricity, gas and recycled water to end users.

The JWS team advising on the acquisition was led by Partner Marko Komadina (Picture), supported by Partners Peter Rose and Anthony Groom on due diligence and Senior Associate Kate Gardner on transaction documentation.

In addition, the JWS finance team, led by Partner Craig Wappett and supported by Special Counsel Deborah Overstead, advised ICG on negotiating a debt finance package from a syndicate of banks to refinance Enwave Australia’s existing bank debt and partially fund ICG’s acquisition of the group.

Involved fees earner: Anthony Groom – Johnson Winter & Slattery; Marko Komadina – Johnson Winter & Slattery; Deborah Overstead – Johnson Winter & Slattery; Peter Rose – Johnson Winter & Slattery; Craig Wappett – Johnson Winter & Slattery;

Law Firms: Johnson Winter & Slattery;

Clients: Infrastructure Capital Group;

Author: Michael Patrini