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QIC takes AUD$128.47 million cornerstone stake in AUD$1.286 billion IPO of Dalrymple Bay Coal Terminal

November 2020

Client(s) Queensland Investment Corporation

Jones Day advised QIC Ltd in connection with its cornerstone investment in the proposed AUD$1.286 billion initial public offering on the Australian Securities Exchange of Dalrymple Bay Infrastructure Limited (DBI), the owner of the Dalrymple Bay Coal Terminal (DBCT) in Queensland, Australia, which is the world’s largest metallurgical coal export terminal. QIC, on behalf of the Strategic Assets Investment Fund, a sub-fund of the Backing Queensland Business Investment Fund, has agreed to invest AUD$128.47 million for a 9.9% stake in DBI. Funds managed by Brookfield Infrastructure Partners, L.P., the current owners of DBI, will retain up to a 49% stake DBCT post-IPO.

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