King & Wood Mallesons (KWM) is pleased to have advised Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, on its proposed acquisition of a 75% interest in the IOR Group (IOR).
IOR provides integrated fuel distribution, equipment, storage, and management services, and works across the full value chain, from import to distribution. Through the acquisition, Stonepeak is investing in essential fuel distribution as a critical input into the Australian economy.
The acquisition will complement Stonepeak’s Asia infrastructure strategy and will support IOR’s continued growth.
As legal counsel, KWM led the fast-paced cross border transaction with multiple workstreams in a globally significant and mature industry sector. This included a competitive sale process where speed of execution was key to success.
The multidisciplinary KWM team was led by Partner Adrian Perkins with support from Senior Associates Angus Morris (Mergers & Acquisitions) and Jovana Zelenbaba (Mergers & Acquisitions), Solicitor Jack O’Brien (Mergers & Acquisitions), Partner Will Stawell (Banking & Finance), Senior Associate Andrew Paisley (Banking & Finance), Partner Mandy Tsang (Warranty & Indemnity Insurance), Solicitor Rouzbeh Ansari (Warranty & Indemnity Insurance), Partner Intan Eow (FIRB) and Solicitor Mark Teh (FIRB).
Commenting on the transaction, Adrian Perkins commented:
“It’s fantastic to be partnering with Stonepeak on its Asia infrastructure strategy and continued deployment of capital in Australia. This transaction was right in KWM’s sweet spot - sharing our deep industrials sector expertise and executing on a complex cross border transaction to deliver value to Stonepeak.”
