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Allens pulls off projects merger
Allens has acted on the acquisition of an Australian projects firm by a major global company.
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Firms: Allens (Australian counsel to Jacobs Engineering Group); Paul Hastings (US counsel to Jacobs Engineering Group); Jones Day (Sinclair Knight Merz)
Area: M&A
Value: $1.3 billion
Key players: Partner Julian Donnan (pictured) led the transaction for Allens, with assistance from partners Kon Stellios and Kim Reid, and senior associates Alex Borda and Andrew Byrne
Deal significance: The merger proposal will be implemented by way of two separate but inter-conditional schemes of arrangement between SKM and its shareholders, which (subject to court approval) will be voted on by SKM shareholders at meetings expected to be held later this year. Jacobs is one of the world’s largest providers of professional technical services, with 2012 revenue of nearly $US11 billion. SKM is a leading projects firm, with global capability in engineering, consulting and project delivery, and fee income of more than $1 billion. Commenting on the deal, Allens’ lead partner Julian Donnan said: "Allens was pleased to work with the Jacobs Engineering team on this significant transaction."