Stonepeak Partners LP and Spirit Super signed a definitive agreement to acquire GeelongPort Pty Limited from Brookfield Asset Management Inc. (TSX:BAM.A) and SAS Trustee Corp. on November 20, 2022. Under the terms of the agreement, Stonepeak, on behalf of its managed funds and accounts, will hold a majority 70% interest in the entity and Spirit Super will have a 30% stake.

The transaction is expected to close towards the end of the first quarter of 2023, subject to customary regulatory approvals. The Consortium were advised by Gresham Partners acting as financial advisor, King & Wood Mallesons as legal advisor and Clayton Utz as tax advisor. Macquarie Capital (Australia) Limited acted as financial advisor to Spirit Super.