Updated, May 16, 2012: This story has been updated to note the role of Allens.
 
King & Wood Mallesons, Allens, Baker & McKenzie, and Gilbert + Tobin have advised on the multi-billion dollar leasing of a Sydney desalination plant.
 
A consortium comprising Hastings Fund Management,  the Australian Infrastructure Fund, and the Ontario Teachers Pension Plan Board has agreed to pay the New South Wales government $2.3 billion for a 50-year lease on the plant and pipeline in south Sydney, as well as a 50-year purchase agreement with the Sydney Water Corp.
 
The government will use $1.7 billion to pay off debts on the site and $300 million will go to a state infrastructure fund to build roads, schools and hospitals.
 
The consortium was advised by Allens partners Robert Clarke and Simon Lynch. Baker & McKenzie partner Michael Kunstler represented the Ontario Teachers Pension Plan.
 
King & Wood Mallesons partners Mark Upfold, Dominic Bortoluzzi, Vishal Ahuja, Stuart Dixon-Smith and Debra Townsend advised the New South Wales government
 
Gilbert + Tobin partners John Schembri and Alexander Danne acted for the consortium’s 11 lenders.
 
Email: jseah@alm.com