King & Wood Mallesons has advised Queensland Investment Corporation (QIC) on the acquisition of Energy Australia’s Iona Gas Plant valued at $1.78 billion.

A multidisciplinary team from KWM assisted QIC including: Partner Louis Chiam who led the acquisition team with Senior Associate Jonathan Mitchell. Claire Rogers, Partner, lead the acquisition financing, assisted by Senior Associates Brendan Smith and Chris Allfrey. Ros Anderson led the upstream equity investment assisted by Senior Associate Carola Toledo Da Silva. In addition, Caroline Coops, Partner led the competition piece.

Commenting on the deal Louis Chiam, Partner, King & Wood Mallesons said: “We’re delighted to have worked with QIC on this competitive and challenging bid.”

“Funded by a four-bank debt syndicate, the deal signifies investor appetite across major banking institutions. It is also a clear indication of QIC’s appetite for Australian infrastructure assets,” added Claire Rogers, Partner, King & Wood Mallesons.

In October KWM acted as lead counsel to QIC Global Infrastructure on establishing a fund financing facility to provide liquidity and flexibility for QIC’s Global Infrastructure Fund.