Deal: Telstra has been advised on its corporate restructure. As a result of the restructure and associated shareholder-approved scheme of arrangement, Telstra Group Limited is now listed on the ASX as the new head entity of the Telstra Group.

Value: Undisclosed

Area: Corporate

Key players: King & Wood Mallesons partners Joe Muraca, Cheng Lim, Stephen Minns, Jack Hill, Nicola Charlston, Kirsten Bowe, Rachael Lewis, Kate Creighton-Selvay, Ben Kiely and Jessica Kruger advised Telstra on the scheme of arrangement process, ASX listing requirements and the operational and regulatory elements of the restructure.

Partner Caroline Coops led the Australian Competition and Consumer Commission (ACCC) aspects, while partner Anne-Marie Neagle led the financing stream, and Justin Cherrington led on tax aspects.

Special counsels Stephen Brightman, Daryl Cox and Mikkeli Godfree and senior associates Amanda Kazacos and Charles Westh were also key in supporting Telstra on the restructure, and Kerryn Underwood led the project management team.

Deal significance: This transaction saw the King & Wood Mallesons team advise Telstra throughout the process and on all aspects of the restructure, including obtaining shareholder and court approvals, the creation and passage of federal legislation and ACCC authorisation.

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Commenting on the transaction, partner Joe Muraca said: “This is a really transformative project at enormous scale. The non-operating holding company structure sets Telstra up for future success as it seeks to deliver on its T25 strategy.”

Further commenting, partner Cheng Lim said: “It has been an enormous team effort from the entire firm working closely with Telstra to make the restructure happen. Our deep knowledge of Telstra and the bench strength of our team has made a real difference in helping Telstra navigate through the restructure.”