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Big Law

Australian digital advertising business sold

Several firms have advised on the sale of an Australian digital advertising company.

October 11, 2016 • By Emma Musgrave
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Paul Schmidt Uili
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Firms: DibbsBarker (shareholders of Multimedia International Services Holdings Ltd (UK)); Reddie Lawyers (Medical Channel); PwC (Medical Channel’s investors, Smorgons and the Wingate Group); K&L Gates (Medical Channel’s investors, Smorgons and the Wingate Group)

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Deal: The shareholders of Multimedia International Services Holdings Ltd (UK) have been advised on the sale of their interests in The Community Network to Medical Channel.

 
 

Value: Confidential

Area: M&A, corporate, commercial

Key players: The DibbsBarker legal team was led by corporate and commercial partner Paul Schmidt-Uili, with assistance from senior associates Kamini Newton and Simone Collignon, associate Cil van der Merwe and lawyer Sam Hardman.

Deal significance: The Community Network is an Australian digital advertising company that sells advertising space to small businesses. The advertisements are presented on LCD screens at various sites, including hospitals, medical centres, fitness centres and shopping centres.

The transaction between Multimedia International Services Holdings Ltd (UK) and Medical Channel required a significant cross-border tax restructure to enable the sale of the Australian arm of The Community Network to Medical Channel.

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This involved the preparation and execution of a suite of comprehensive transaction documents to implement a series of restructure steps between the UK and Australia.

“It was pleasing for us to support our clients with such a significant sale for them,” said DibbsBarker lead partner Paul Schmidt-Uili.

“The deal involved navigating a number of cross-border complexities and it was great to achieve an excellent result for our clients.”

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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