Australians acquire Malakoff’s indirect interest in Australian Wind Farm
29 November 2019
On 29 October 2019, Megawatt Financing Pty Ltd and AMPCI Macarthur Wind (T) Pty Ltd (as trustee of AMPCI Macarthur Wind Trust) entered into a conditional Share and Unit Purchase Agreement (‘SPA’) to acquire the entire 50% participating interest of Skyfirst Power Sdn Bhd, an indirect wholly-owned subsidiary of Malakoff Corporation Berhad, in Macarthur Wind Farm, an unincorporated joint-venture, for a cash consideration of approximately AUD357 million. Macarthur Wind Farm operates a 420MW windfarm in Australia. Skyfirst Power Sdn Bhd’s obligations under the SPA are guaranteed by Malakoff Corporation Berhad.
Subject to fulfilment of the conditions precedents, the SPA is expected to be completed in the first quarter of 2020.
Our Partners, To’ Puan Janet Looi and Sheba Gumis, and Associate, Alia Abdullah, advised AMP Capital Investors Limited on the guarantee contained in the SPA.