Goodbye job applications, hello dream career
Seize control of your career and design the future you deserve with LW career

Multibillion-dollar acquisition of ASX telecom draws closer

Gilbert + Tobin is advising Macquarie Infrastructure and Real Assets, along with its managed funds, on a proposal to acquire Vocus Group Limited.

user iconEmma Musgrave 11 March 2021 Big Law
Multibillion-dollar acquisition of ASX telecom
expand image

Firm: Gilbert + Tobin (Macquarie Infrastructure and Real Assets and its managed funds MIRA and Aware Super).

Deal: Gilbert + Tobin is advising Macquarie Infrastructure and Real Assets and its managed funds MIRA and Aware Super (the consortium) on its proposal to acquire Vocus Group Limited by scheme of arrangement.

Value: $3.5 billion.

Advertisement
Advertisement

Area: Corporate, M&A.

Key players: The legal team advising the consortium was led by Gilbert + Tobin corporate advisory partners Costas Condoleon and Kevin Ko, with lawyers Wes Bainbridge and Andrea Bennett heavily involved in the deal aspects. 

Gilbert + Tobin banking and infrastructure partners John Schembri and Adela Smith are advising the consortium on its debt arrangements.

Gilbert + Tobin consultant Peter Waters, partners Michael Caplan, Lesley Sutton, Tim Kennedy and lawyers Nicola Jackson, Maria Eger and Melissa Ramsay are also assisting the transaction.

Deal significance: Vocus Group Limited is an ASX-listed telecommunications company offering fibre and network solutions connecting all Australian mainland capitals with Asia and the US.

The proposed acquisition by the consortium is scheduled to be closed at the end of this year. Details of the transition include a proposed scheme under which 100 per cent of Vocus would be acquired by the consortium, with Vocus shareholders receiving $5.50 cash per Vocus share.

“Operating an extensive terrestrial network of c. 30,000 route-km of fibre-optic cable, including backhaul fibre across Australia and New Zealand and submarine cables connecting Singapore, Indonesia and Australia and East Timor, Vocus delivers broadband, mobile, voice and energy services via well-recognised brands including Dodo, iPrimus and Commander,” a statement from Gilbert + Tobin explained. 

Commenting further, co-lead partners Mr Condoleon and Mr Ko said: “It has been terrific to work with MIRA and Aware Super and their outstanding teams on this landmark transaction.

“The announcement of this deal continues the growing trend of sponsors and superannuation funds targeting ASX-listed companies and infrastructure type assets. We look forward to working with the consortium to see this transaction through to completion.”

You need to be a member to post comments. Become a member for free today!