King & Wood Mallesons is advising Asciano Limited (Asciano) on its A$8.9bn sale to Brookfield Infrastructure Partners L.P. (Brookfield) by way of a scheme of arrangement.

Asciano is one of Australia’s largest logistics firms, incorporating Patrick Stevedoring, Pacific National and National Rail, as well as a number of other transport and supply-chain operations.

Asciano has agreed to propose a scheme of arrangement with Brookfield, under which a vehicle owned by Brookfield Infrastructure Partners, other Brookfield sponsored and managed private funds, and two institutional partners will acquire all the shares in Asciano. Asciano shareholders will receive an implied value of A$9.15 per Asciano share.

The KWM team included partners Stephen Minns, Neil Carabine, Nicola Charlston and, supported by Senior Associates Rob Kelly and Daniel Natale.

Commenting on the deal, KWM partner, Stephen Minns said, “We are delighted to have been able to work with Asciano on this significant cross-border deal.”

Brookfield is being advised by Herbert Smith Freehills.