find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Webjet lands global deal with European travel business

Webjet lands global deal with European travel business

Deal, handshake

A B2B travel wholesaler servicing clients in Europe has been scooped up by the ASX-listed digital travel mogul Webjet.

Firms: DLA Piper (Webjet Limited); Mayer Brown (Vitruvian); Ashurst (UBS and Credit Suisse acting joint lead managers and underwriters)

Deal: JacTravel has been acquired by Webjet Limited (ASX: WEB) from UK based equity fund Vitruvian.

Value: AU$330 million

Area: M&A, corporate, finance

Key players: The DLA Piper team advising Webjet Limted (Webjet) was led by partner Joel Cox (pictured). Senior associate James McCarthy, solicitor Jack McDonell and foreign legal associate Bradley Heath.

Head of corporate Australia James Philips led the DLA team advising on equity capital markets. He was assisted by senior associate Kelly Morrison, solicitor Jeffrey Chen and graduate Amina Karcic. 

DLA’s UK acquisition team was also involved in the deal, led by partner Anu Balasubramanian, and assisted by senior associate Simon Wright and associate Liam McLoughlin. They were supported by DLA’s UK intellectual property partner Gareth Stokes and senior associate Nick Hilton.

Other lawyers from the global firm’s China, Romania, the Middle East and US offices were also involved. 

Deal significance: JacTravel provides online hotel bookings and inbound ravel services, with directly contracted hotels numbering 10,000. The UK-based business has an annual total transaction value of AU$657 million and is considered a tourism market lead, especially in Europe.

James Philips, DLA Australia’s head of corporate, said that Webjet’s acquisition of JacTravel was characterised by its complexity.

“This transaction highlights DLA Piper’s strengths as a leading advisor to listed tech companies, and our capacity to execute complex, interdependent transactions in different jurisdictions and time zones, each involving several parties,” Mr Philips said.

Ashurst acted for UBS and Credit Suisse, which were joint lead managers and underwriters for the deal. Deloitte was the independent accountant in the transaction.

Webjet has been a long-standing client of global firm DLA Piper and, according to partner Joel Cox, this latest deal was an important part of the company’s international growth strategy. He added that the company’s current focus was to become the second largest B2B travel supplier globally.

“The acquisition of JacTravel, with its highly complementary business lines, repositions our client’s B2B business WebBeds, increasing the depth and breadth of their offering – particularly in the important European market,” Mr Cox said.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Webjet lands global deal with European travel business
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Oct 19 2017
‘Ego status’ compelled ex-lawyer to defraud $2.97M, court told
Debarred lawyer John Gordon Bradfield told an NSW District Court that he was driven by “ego status...
Australian Lawyers Alliance (ALA), Queensland’s new industrial manslaughter legislation,
Oct 19 2017
ALA welcomes ‘tough’ Qld manslaughter laws
The Australian Lawyers Alliance (ALA) has welcomed Queensland’s new industrial manslaughter legisl...
Legal podcasts, tune in, microphone
Oct 19 2017
Legal podcasts you have to tune in to right now
The rise of the internet has hailed in a new dawn for storytelling. Here’s our top pick of podcast...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...