Top 10 dealmakers

1&2. Garry Besson and Gary Lawler

Firm: Ashurst

Area: Corporate M&A

Besson and Lawler joined the partnership of Ashurst (then Blake Dawson) from Gilbert + Tobin on 3 January and 1 February 2012, respectively. They advised Charter Hall Office REIT on the US$1.71 billion sale of its US property portfolio and Coal & Allied Industries Limited on the proposal received from Rio Tinto Limited.

3. Renee Boundy

Firm: Allens

Area: Banking and project finance

Boundy recently acted as lead counsel to Goldman Sachs and Brookfield Multiplex on the acquisition of Lloyd International’s New Zealand property loan portfolio, and to the banking syndicate for Sydney Airport’s refinance of $1.3 billion. 

4. Stuart Byrne

Firm: Clayton Utz

Area: Equity capital markets (ECM), corporate M&A

As the head of Clutz’s national ECM group, Byrne advised Origin Energy Limited on all of its capital raisings during the 2011/12 financial year, including its $2.3 billion raising using the innovative PAITREO structure, which he pioneered. 

5. Yuen-Yee Cho

Firm: King & Wood Mallesons

Area: Banking and finance

As the head of KWM’s private equity practice, Cho worked on transactions or bids to the tune of more than $5 billion in the 12 months to May 2012.  Cho acted for a syndicate of 11 domestic and offshore banks on the $600 million-plus financing of Affinity Equity Partners’ successful bid for Primo Smallgoods.

6. Alfonso Grillo

Firm: Tresscox 

Area: Corporate M&A

Grillo acted for Somerton Energy in May in its $31.5 million off-market takeover bid by Cooper Energy. He is also currently the Company Secretary of ASX-listed Essential Petroleum Resources Limited, Nagambie Mining Limited and Sun Biomedical Limited.

7. James Halliday

Firm: Baker & McKenzie 

Area: Corporate M&A and private equity

Halliday advised on Optus’ $230 million acquisition of Seven Group’s wireless broadband business and its agreement with NBN Co on the migration of its Hybrid Fibre Coaxial Cable customers to the NBN.

8. Kate Jordan

Firm: Clayton Utz

Area: M&A and media

The head partner of the firm’s Sydney office (since January 2012), Jordan recently advised Seven Group’s wireless broadband business on its $230 million acquisition by Optus as well as TransACT’s $60 million acquisition by iiNet. She acted on the $1.35 billion acquisition of Southern Cross Broadcasting and Seven’s acquisition of major sporting rights.

9. Michael Kunstler

Firm: Baker & McKenzie 

Area: Infrastructure and energy trade sales

Kunstler is a partner in Bakers’ Sydney office and has experience acting for the Commonwealth, NSW and Vic governments on various trade sales and IPOs. He advises major international boards and key industry participants on proposed divestments and acquisitions throughout the world. 

10. Rebecca Maslen-Stannage

Firm: Freehills

Area: Corporate M&A  and ECM

Maslen-Stannage’s overwhelming deal achievement of 2011/2012 was her role in completing the Centro Properties Group restructuring deal, which was valued at over $16 billion in total.  

“Like the ad says, there are some things that money can’t buy - like that rush when the deal is completed. Before you get to that point, however, you do have to buy a lot of late-night pizza and coffee” 
Stuart Byrne, partner, Clayton Utz

Top 10 deals

1. Lawyer helps Tiwis find home

Agreement for a 99-year township lease that will help Tiwi Islanders achieve home ownership. 

Firms: Piper Alderman partner Sebastian Greene advised the Tiwi Land Council in their negotiations with the Federal Government for lease for the communities of Milikapiti (Snake Bay) and Ranku (Wurankuwu).

Area: Native title

Deal significance: “A township lease can help to create what more closely resembles a normal market economy on Aboriginal communal land,” said Greene. On his most recent visits to the islands, which lie 80km north of Darwin, Greene said he was “staggered” to see the progress being made at Wurrumiyanga, where there are now many registered sub-leases. 

2. Echo raises $245 million

Accelerated renounceable entitlement offer underwritten by Macquarie Capital (Australia) Limited and UBS AG, Australia Branch.

Firms:  Clayton Utz (Macquarie Capital and UBS) and King & Wood Mallesons (Echo Entertainment Group Limited).

Area: ECM

Value: $454 million

Key players: Clayton Utz partners Stuart Byrne and Alex Schlosser advised Macquarie Capital and UBS. The KWM team included John Humphrey, Shannon Finch and others.

Deal significance: “We have successfully worked with Echo to secure a revised capital structure that will provide a stable platform for growth and assist it with further development of its dynamic and strongly-growing international rebate business,” said Humphrey.

3. Firms help protect defences

Outsourcing agreement with the Australian Defence Force (ADF) to provide high-quality health services to defence personnel across Australia. 

Firms:  King & Wood Mallesons (Medibank Health Solutions) and Minter Ellison (Department of Defence).

Area: Outsourcing

Value: $1.3 billion

Key players:  Partner Patrick Gunning led the KWM team, which included partner John Topfer on medical malpractice issues, and partner Philip Ward on insurance-related aspects.

Deal significance:  Medibank will manage and coordinate the ADF’s healthcare services nationally, simplifying and streamlining the healthcare process for approximately 80,000 permanent and reserve ADF personnel. 

4. Lion swallows Little World 

Acquisition of Little World Beverages by scheme of arrangement. 

Firms:  King & Wood Mallesons (Lion), Freehills (Little World Beverages)

Area: M&A

Value:  $381.6 million

Key players: The KWM team included partners Meredith Paynter, Sharon Henrick and Judy Sullivan, while special counsel Malcolm Brennan advised on FIRB aspects of the deal.

Deal significance: Under the scheme, Lion will offer $5.30 per share to acquire the remaining shares it doesn’t already own in the Perth-based craft brewing company. 

5. Mining’s big deal

Glencore, the world’s largest commodities trading company, will acquire all of the remaining 65 per cent shareholding in Xstrata.

Firms:  King & Wood Mallesons (Glencore and Xstrata), Freshfields (international counsel for Xstrata) and Linklaters (international counsel for Glencore).

Area: M&A

Value:  The merger values the Xstrata shares at US$61.9 billion, for which 2.8 Glencore shares were offered for each Xstrata share

Key players:  The KWM team included partners Nicholas Pappas, Wayne Leach, Andrew Gray and Frank Brody. Special counsel Malcolm Brennan advised on FIRB-related aspects.

Deal significance: Upon completion, the merger will be the largest of its kind in the mining industry to date and the largest M&A deal, in money terms, worldwide this year. The new entity, to be called Glencore Xstrata, will be one of the world’s largest diversified mining houses and have a combined market capitalisation of US$90 billion. 

6. Firms’ watertight deal

Binding offer to refinance the Sydney Desalination Plant. 

Firms:  Allens (consortium including the Ontario Teachers’ Pension Plan (OTPP) Board, Hastings Managed Infrastructure Funds Utilities Trust of Australia and The Infrastructure Fund), Gilbert + Tobin (lenders), Baker & McKenzie (OTPP), Osler (Canadian advisers to OTPP), King & Wood Mallesons (NSW Government and the Sydney Water Corporation).

Area: Projects

Value:  $2.3 billion

Key players:  Robert Clarke and Simon Lynch co-led the Allens team. Bakers partners Michael Kunstler and Lewis Apostolou acted for Ontario. The team from G+T was led by partners John Schembri and Alexander Danne.

Deal significance:  The deal involves a long-term lease of the desalination plant, pipeline and site, and a 50-year water supply agreement with Sydney Water Corporation. 

7. Big four fund FOXTEL

Foxtel’s financing of its acquisition of regional subscription television provider, AUSTAR United Communications Limited, and the refinancing of its existing facilities. 

Firms:  Allens (FOXTEL), Freehills and Ashurst (AUSTAR), Minter Ellison (lenders).

Area: Banking and finance

Value: More than $3 billion

Key players: Partner Alan Maxton led the Allens banking and finance team, while competition partner Jacqueline Downes also acted for Allens, which worked closely with FOXTEL chief general counsel Lynette Ireland. Partners John Mosley led for Minters together with partners Daniel Marks, Ron Forster and Michael Barr-David. Mark Crean and Paul Hughes led for Freehills.Deal significance: The financing will assist FOXTEL to become one of Australia’s largest media businesses, with more than 2500 employees and anticipated revenue of more than $2.8 billion. The funding, provided by the four major Australian banks comprised take-out financing of a $900 million bridge facility and $1.2 billion syndicated facility. 

8. Firms get finance on track

Brookfield Rail completes its $US882 million combined project and corporate financing, to be used to fund the expansion program for its track infrastructure in mid-west WA. 

Firms:  Norton Rose (Brookfield Rail), Allens Arthur Robinson (bank syndicate), King & Wood Mallesons and Clifford Chance (China Development Bank) and Blake Dawson (EFIC)

Area: Finance

Value: $US882 million 

Key players: Partner Alen Pazin led the Norton Rose team

Deal significance: Brookfield Rail’s expanded track is a critical piece of infrastructure to enable iron ore from those projects to be transported to port for subsequent export. 

9. Centro sells centres

Centro sells 50 per cent of its three largest shopping  centres to the Perron Group

Firms:  Freehills (Centro Retail Australia) and King & Wood Mallesons (Perron Investments).

Area: Real estate

Value:  $690.4 million

Key players: Michael Back led the Freehills team. along with partners Martin McDonald, David Sinn and Rebecca Maslen-Stannage. The team worked closely with CRF’s in-house group general counsel Dimitri Kiriacoulacos. The KWM team was led by Simone Menz.

Deal significance: This transaction is the largest commercial real estate transaction undertaken in Australia this financial year. 

10. Peabody steels Macarthur 

Successful acquisition of ASX-listed Macarthur Coal by Peabody Energy and ArcelorMittal

Firms:  Freehills (Peabody Energy Corporation), Corrs Chambers Westgarth (Macarthur Coal), Henry Davis York partners (Bank of America, Merrill Lynch and UBS), King & Wood Mallesons (ArcelorMittal SA).

Area: M&A

Value:  US$5.2 billion

Key players: Corrs partners Teresa Handicott, Braddon Jolley and Jeremy Horwood advised along with KWM partners David Friedlander and Greg Golding. Freehills M&A partners Tony Damian and Andrew Rich advised St. Louis-based Peabody and HDY partners Roger Dobson and James Lonie acted for the lenders.

Deal significance: Peabody’s $5.2bn bid remains the third largest Australia Inbound M&A in 2011.