Australia: Corrs advises Aurizon on its divestment in Moorebank, valued at $98.9 million
Last Updated: 17 August 2016

Australia's leading independent law firm, Corrs Chambers Westgarth, has advised Aurizon Holdings on the sale of its 33% equity stake in the proposed Moorebank Intermodal Terminal.

Aurizon has sold its holding to Qube Holdings, which currently has a 67% stake, for a value of AU$98.9 million. Aurizon and Qube had initially formed the Sydney Intermodal Terminal Alliance (SIMTA) to develop the Moorebank terminal in south western Sydney, Australia.

The Corrs team advising Aurizon was led by Corporate Partner Stephanie Daveson, supported by Aidan Lavin, Senior Associate.

Corrs has a longstanding relationship with Aurizon, and advised the company on its joint venture arrangements with Qube for the Moorebank project in 2015.

The sale of Aurizon's investment in the Moorebank project follows Aurizon's securing of a 10-year lease at the nearby Enfield Intermodal Logistics Centre (ILC) owned by NSW Ports, which fulfils Aurizon's current customer, capacity and operational needs.

Corrs lead partner Stephanie Daveson said, "We are delighted to have worked with Aurizon on the joint venture arrangements and subsequent divestment of this project, and look forward to continuing to support the company into the future."

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