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SAI Global advised on $855m sale
SAI Global has entered an agreement to sell its Standards and Assurance Service business to Intertek Group.
Lauren Croft
Firm: Clayton Utz
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Deal: Clayton Utz has advised SAI Global, a portfolio company of Baring Private Equity Asia, on an agreement for the sale of SAI Global’s Standards and Assurance Services business to UK-listed Intertek Group plc, for a cash consideration of $855 million. The sale was announced to the London Stock Exchange last week.
Value: $855 million.
Area: Corporate.
Key players: Corporate partner and national practice group leader Rory Moriarty led the matter and was supported by special counsel Sidney Tang, lawyer Kimberley Grellinger, IP & technology partner Walid Sukari and senior associate Akmal Chunara.
Deal significance: Intertek Group’s acquisition of SAI Global Standards and Assurance will expand its service capabilities and grow its presence in markets including Australia, the US, Canada, China and the UK.
Mr Moriarty said the team was pleased to work with SAI Global after advising on the $91 million sale of its Property Division to cloud-based software and technology solutions provider, Dye & Durham, earlier this year.
