Global law firm Ashurst has advised Sojitz Corporation on its acquisition of a 50% interest in the transport business of UGL Limited (UGL). Through this acquisition, Sojitz will enter the rail operations and maintenance (O&M) business, expanding on its existing rail engineering, procurement and construction business in Asia with the aim of developing and providing comprehensive rail related services.
UGL is an integrated transport services platform operating across Australia, with capabilities spanning rolling stock manufacturing and servicing, the O&M of transport assets across Australia and New Zealand, network management, transport operations, and advanced signalling and communications systems. Established in 1899, UGL has delivered projects for rail, light rail, and bus operations in major cities including Melbourne, Canberra, and Sydney. In addition to passenger rail operations, UGL has a strong track record in manufacturing and maintaining locomotives essential for mineral resources transport.
Ashurst advised Sojitz Corporation on all aspects of the transaction, including transaction structuring, due diligence, regulatory approvals, and negotiation of the transaction documents. New Zealand firm Bell Gully advised on New Zealand law aspects.
The Ashurst team was led by partner Natsuko Ogawa who was assisted by: partner Rehana Box, senior associates Shojeeb Alam, Alex McLeish and Alexandra Nash and associates Phoebe Phan, Janet Chhean, Emily Hong, Cameron Huson and Rachel Cohen (Corporate Transactions); partners Mark Disney, Grant Rowlands, Miriam D'Souza and Jessica Davies, counsel Monique Bischof, senior associates Camilla Counsel, Matthew Selth, Emma Jamieson and Ignacio Payarola and associates William Eefting, Ben Cranley, Sunny Shan, Isobel Smith, Kalini Stevens, Jordan Zhang, Macy Greene and Hanna McLean (Projects & Energy Transition); partner Jane Hall and senior associate Lisa Moore (Planning, Access and Environment); partner Campbell Johnston and associates Qiyu Lu and Cecilia Wu (Global Loans); partner Jason Cornwall-Jones, senior associate Jack Kelly and associates Ingrid Tam and Aileen Lin (Real Estate); partner Kellech Smith, senior associate Elizabeth Arms and associate Caitlin Kalaja (IP/Media); partner Emma Butler, counsel Dora Guslitser, and associate Imogen Hanrahan (Digital Economy Transactions); partner Jane Harvey, senior associate Courtney Van Vorsselen, and associate Kiana Hunter (Employment); partner James Clarke, senior associate Dario Aloe, and associate Raman Kaur (Dispute resolution); partner Alexander Dmitrenko and senior associate Vicki Tang (Dispute resolution, Japan); partner Justin Jones and senior associate Adelle Elhosni (Competition); partner Angie Ng, counsel Kailun Ji and associate Danny Xie (Competition, Singapore); partner Steven Vaz and senior associate Danica Barley (Competition, UK); and associate Dalila Marchello (Competition, Belgium).
