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Four firms act on Primus Telecom takeover

Four firms act on Primus Telecom takeover

Lander & Rogers, McCullough Robertson, Gilbert + Tobin and King & Wood Mallesons have advised on aspects of M2 Telecommunications acquisition of Primus Telecom.

Firm: Lander & Rogers and Gilbert + Tobin (M2 Telecommunications Group Ltd) McCullough Robertson (Primus Telecom) King & Wood Mallesons (Goldman Sachs as the underwriter)

Deal: M2 Telecommunications' acquisition of Primus Telecom

Area: Corporate advisory

Value: $192.4 million acquisition. $83.1 million capital raising to partially fund acquisition.

Key players: Partner Jackie Solakovski (pictured) led the Lander & Rogers team together with special counsel Peter Willcocks, senior associate Eleanor Whyte and lawyers Qiao-Lin Cheong and Luong Truong. The KWM consisted of partner Craig Semple and lawyer Robert Kelly.

Deal significance: G+ T acted for M2 in respect of the capital raising and debt funding. Lander & Rogers acted for M2 in respect of the acquisition of Primus. KWM acted for Goldman Sachs as the underwriter of the $83.1 million capital raising. M2 will acquire the shares in the Primus Australian holding company, Primus Telecom Holdings Pty Ltd. M2 Telecommunications is Australia’s largest non-infrastructure based provider of telecommunications services. Under the deal, M2 will absorb Primus’ 165,000 customers, the iPrimus and Primus brands, 500 staff and the telco’s national network assets which include data centres and metro fibre rings.

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