Under the agreement, Australian infrastructure fund manager Hastings Fund Management and First State Super will operate the LPI for 35 years. The deal was panned by experts, who said the concessionaires will have access to a treasure trove of personal information on the state’s residents.
G+T said that the deal, the first of its kind in Australia, involved significant legislative reform and the preparation and negotiation of “extremely complex concession documentation.” It also required a “unique regulatory and contract model,” the firm said.
The G+T team was led by Bill Spain, corporate advisory partner and chairman; Peter Waters, competition and regulation partner; Tim Gole, technology, media and telecommunications partner; Tim Gordon, corporate advisory partner; Gail Christopher, banking and infrastructure partner; and Dianne Banks, litigation partner.
They were supported by lawyers James Pomeroy, John Rhodes, Adrien Grady, Shelley Burger, Philipp Gunther, Elizabeth Spain, Stephanie Essey, Sophie Chesterton, Tom Platt, Alice Pailthorpe, Mitch Bennet, and Jenny Leung.
The NSW government said that proceeds of the deal will be used to fund major NSW infrastructure.
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Gilbert + Tobin acted for the New South Wales government on the $2.6bn concession of the state’s Land and Property Information (LPI) agency.