Keppel Infrastructure Trust’s acquisition of Australian chemical company Ixom from Blackstone

Ashurst has advised Blackstone and the management shareholders on the sale of 100% of the shares in Ixom to Keppel Infrastructure Trust (‘KIT’).

Completion of the transaction is conditional on FIRB and OIO approval, as well as approval from KIT’s unitholders.

Ashurst advised on the breadth of the transaction, including undertaking vendor legal due diligence, advising on transaction structuring and the sale process generally, advising on various regulatory approvals, negotiating and finalising the transaction documents and procuring buy-side warranty and indemnity insurance, as well as advising on an innovative use of environmental liability insurance.

The Ashurst team was led by corporate partner Mark Stanbridge (picture), with support from partners Murray Wheater and Stuart Dullard, and assisted by senior associate Simon Vose, and lawyers Lauren Garrett, Rory McLeod, Ben Lyttle and Sharon Liu. Teams in Singapore and Glasgow were led by partner Simon Brown and head of legal analyst services Iain Brown, assisted by counsel Cheryl Ang, associate Zak Worrall, and legal analyst managers Mark McAuley and Catherine Teenan.

Employment advice was provided by partner Jennie Mansfield and senior associate Peter McNulty, with partner Con Tzerefos and senior associate Jared Lynch advising on superannuation matters. Partner Diane Skapinker, assisted by counsel Vicki Aron and lawyer Robyn Dimis advised on the real estate aspects of the transaction. Finance advice was provided by partner Shawn Wytenburg and lawyer Rebecca Dang. Partner Mark Brennan, assisted by senior associate Guy Dwyer and lawyer Tristan Orgill advised on environmental matters, and counsel Brett Elgar advised on the work, health and safety aspects.

Tax advice was provided by partner Sanjay Wavde and counsel Paul Glover, with partner Anita Cade and senior associate Maria Sun advising on the IP aspects of the transaction. Competition advice was provided by partner Ross Zaurrini and senior associate Tihana Zuk, and partner Rehana Box and lawyer Alex Nash advised on insurance matters. Funds partner Lisa Simmons and disputes partners Ross McClymont, Wen-Ts’ai Lim and Mark Elvy, and senior associates Michael Murray and Jason Strachan also advised.

Involved fees earner: Mark Stanbridge – Ashurst; Murray Wheater – Ashurst; Stuart Dullard – Ashurst; Simon Vose – Ashurst; Lauren Garrett – Ashurst; Rory McLeod – Ashurst; Ben Lyttle – Ashurst; Sharon Liu – Ashurst; Simon Brown – Ashurst; Iain Brown – Ashurst; Cheryl Ang – Ashurst; Zak Worrall – Ashurst; Jennie Mansfield – Ashurst; Peter McNulty – Ashurst; Diane Skapinker – Ashurst; Vicki Aron – Ashurst; Robyn Dimis – Ashurst; Jared Lynch – Ashurst; Con Tzerefos – Ashurst; Shawn Wytenburg – Ashurst; Rebecca Dang – Ashurst; Rehana Box – Ashurst; Alex Nash – Ashurst; Mark Brennan – Ashurst; Guy Dwyer – Ashurst; Tristan Orgill – Ashurst; Sanjay Wavde – Ashurst; Paul Glover – Ashurst; Anita Cade – Ashurst; Maria Sun – Ashurst; Ross Zaurrini – Ashurst; Tihana Zuk – Ashurst; Brett Elgar – Ashurst; Lisa Simmons – Ashurst; Ross McClymont – Ashurst; Wen-Ts’ai Lim – Ashurst; Mark Elvy – Ashurst; Jason Strachan – Ashurst; Michael Murray – Ashurst;

Law Firms: Ashurst;

Clients: Blackstone;