Ventia advised on cross-border acquisition of Broadspectrum

By Jerome Doraisamy|28 July 2020
Herbert Smith Freehills

Infrastructure services company Ventia has been advised on its acquisition of Broadspectrum from publicly listed Spanish parent company Ferrovial, for an equity value of $485 million.

Firm: Herbert Smith Freehills (Ventia), Gilbert + Tobin and Uria Menendez (Australian and Spanish legal counsel to Ferrovial, respectively), Goldman Sachs (financial adviser, Ferrovial).

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Deal: Ventia has acquired Broadspectrum, a complementary infrastructure services business, which operates in Australia, New Zealand and parts of the Asia-Pacific region. The transaction was particularly complicated, taking over 12 months to complete and involving negotiations in Sydney and Madrid.

Value: $485 million.

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Area: M&A.

Key players: The HSF team was led by partner Damien Hazard, senior associate Tom Hoare and solicitor Alexandra Thams, who together oversaw a multi-jurisdictional, cross-practice team of over 50 lawyers across Sydney, Melbourne, London, Malaysia and Singapore.

Deal significance: Speaking about the transaction, Mr Hazard said: “Ventia, CIMIC and Apollo are all significant and longstanding clients of Herbert Smith Freehills and, more specifically, our private equity team in Sydney. We previously advised CIMIC on the original 2015 transaction to create Ventia and continue to advise CIMIC and Apollo on a range of M&A and infrastructure transactions in Australia.”

“It was our pleasure to assist Ventia with this latest strategic transaction involving lawyers from across the firm’s global network,” he said.

HSF head of global M&A Gavin Davies added: “It was great to be able to deploy our sector expertise in private equity and infrastructure, and a team from across our Australian and European platform, to help Ventia realise its ambitions.”

Ventia advised on cross-border acquisition of Broadspectrum
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