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Acciona advised on acquisition of Lendlease's Engineering business
Global sustainability business Acciona has been advised on its $180 million acquisition of ASX-listed Lendlease’s Engineering business.
Jerome Doraisamy
Source: facebook.com/pg/ACCIONA.English/photos/?ref=page_internal
Firm: Clayton Utz (Acciona).
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Deal: Clayton Utz has advised global sustainability business Acciona on its $180 million acquisition of ASX-listed Lendlease’s Engineering business, announced to the market yesterday. The firm advised Acciona throughout the sale process including initial offer proposals, due diligence and final agreement negotiation and execution.
Area: Corporate.
Value: $180 million.
Key players: The CU team was led by partner Michael Linehan, who was supported by special counsel Quentin Reidy, senior associate Claire McKenzie, as well as other specialist lawyers, the firm said.
Deal significance: The acquisition is expected to complete in the first half of 2020, subject to conditions and regulatory approvals. Acciona will acquire the engineering business excluding the NorthConnex, Kingsford Smith Drive and Melbourne Metro projects.
Speaking about the deal, Mr Linehan said: “This is a significant transaction for both our client and Lendlease, and involved particularly complex aspects. The transaction involved a team effort from many different disciplines, from both within Acciona and Clayton Utz.”
“It was a joy to work with the Acciona team, and we are proud to have helped Acciona in its successful negotiations to achieve this outcome. We look forward to being able to continue to work with Acciona as it continues to grow its Australian business operations,” he said.
