Scottish legal firm advises on top deal Down Under

Scots legal firm Harper Macleod has wrapped up one of its biggest marine deals to date – on the other side of the world.

The firm said its dedicated shipping, ports and harbours team had advised on the financial close of a $115 million (£82m) investment by its long-standing client Sea Transport Corporation (STC) and Australian financial institutions in the Lucky Bay port facility near Adelaide.

STC, which was established in 1976 by Scotsborn businessman Stuart Ballantyne, owns, operates and constructs marine vessels, and has a track record in the establishment of new ports and ferry routes.

Steven Brown, who leads the team from Harper Macleod’s Edinburgh office, said: “We supported our client throughout negotiations with institutional investors, in developing a contract that allows priority to operate STC’S own ferry service out of the port, contracts to design, build and manage a $21m vessel, and creating a potential pipeline of follow on port developments.”