Allens advises Duet Group on $7.4 billion stapled securities sale


Allens has advised energy utility and infrastructure operator DUET Group (DUET) on the acquisition by a consortium led by Cheung Kong Infrastructure of 100 per cent of DUET’s stapled securities for $7.4 billion.

The transaction was implemented on 15 May through four inter-conditional schemes: three company schemes of arrangement and a trust scheme.

DUET’s asset portfolio includes the Dampier to Bunbury gas transmission pipeline, energy business Energy Developments Limited, and power and gas distribution networks in Victoria.

‘We are delighted again to have worked with our long-standing client, DUET, on this transformative deal, and congratulate them on the outcome,’ said joint lead partner Marc Kemp.

‘The transaction involved a large, multidisciplinary team from Allens, and is a great example of the complex and high-profile public M&A work we regularly undertake.’

Image: Allens Lead Partners Marc Kemp and Stuart McCulloch.