Essity acquires Asaleo Care for $788m
Essity has acquired the remaining Asaleo Care shares that it did not already own via a scheme of arrangement valued at $788 million.
Firm: MinterEllison (Essity)
Deal: MinterEllison has assisted long-term client Essity on its proposed $788 million acquisition of Asaleo Care.
Value: $788 million.
Key players: The team was led by partners Jeremy Blackshaw and Alberto Colla with transaction solutions assistance from associate Mark Simkiss and lawyers Arman Saffar and Josh Carfi.
The team was also assisted by tax partner Adrian Varrasso with assistance from senior associate Daniel Kornberg; transfer pricing from partner Craig Silverwood and associate Beau Jellis; commercial and regulatory advice from senior associate Margaret Gigliotti and assistance from competition partner Miranda Noble and workplace special counsel Tim Davey.
The team also included partner David Moore, senior associate Mellissa Lai and associate Katherine O'Brien. From New Zealand, partner Silvana Schenone and senior associate Igor Drinkovic were also credited for the deal.
Deal significance: MinterEllison acted for long-term client Essity in its proposed acquisition of the remaining 63.8 per cent shares in ASX-listed Asaleo Care Limited that it did not already own via a scheme of arrangement.
The proposed transaction is expected to enable opportunities for continued investment in Australia, New Zealand and the Pacific region, a broader product suite for Asaleo customers and new career opportunities for the Asaleo team.
International managing partner Mr Blackshaw commented: “We are very pleased to have advised our longstanding client Essity on reaching this important stage in acquiring all of the outstanding shares in Asaleo Care Limited that it does not already own.
“The acquisition of Asaleo Care will facilitate the opportunity for profitable growth in Australia, New Zealand and the Pacific region and will further consolidate Essity’s position as a leading global health and hygiene company.”