find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Minters, Allens, work on Rio Tinto acquisition

Minters, Allens, work on Rio Tinto acquisition

Minter Ellison has acted as Australian counsel on Amcor’s acquisition of Rio Tinto Plc Alcan’s packaging business units.

MINTER Ellison has acted as Australian counsel on Amcor’s acquisition of Rio Tinto Plc Alcan’s packaging business units.

The $2.44 (US$2.025) billion deal saw Rio Tinto receive a binding offer from Amcor Limited to acquire a number of Alcan Packaging businesses.

Minters assisted Rio Tinto’s lead lawyers, Freshfields Bruckhaus Deringer, on the Australian aspects of the transaction.

The firm advised on the ACCC’s merger clearance processes as well as with submissions to the ACCC on the proposed acquisition.

Allens Arthur Robinson, meanwhile, advised Amcor on the deal.

The transaction shows that it is possible to obtain informal merger clearance in Australia efficiently, said Minter Ellison lead counsel Russell Miller, a partner in the firm’s Australasian competition practice.

Miller told The New Lawyer that these types of deals are increasing for top Australian law firms.

“At any one time firms like ours, and perhaps two or three other firms prominent in this field, would have a number of these deals going, Mallesons [Stephen Jaques] included. The deals tend to congregate around those firms that have international reputations in the competition field,” he said.

The work on this deal was referred from global firm Freshfields, said Miller, and is a common type of deal for the firm, which “gets a lot of the Australian and New Zealand end of global takeovers”.

Minters’ advice on the Australian aspects of the regulatory approval needed to align with the timing of other regulatory approvals being sought worldwide, the firm said. It also had to ensure the agreed project timetable was able to proceed without delay.

“What’s important with these deals is that you properly assess the deal from an Australian perspective and in this case work with the other team to obtain the clearance,” said Miller.

Miller said the clearance work on deals has been increasing in recent months. Although the deals often don’t proceed, the work beforehand provides Minters, at least with a lot of work.

“So you’ll get a competition clearance, because you’ve got to have one, and you have to find Investments approval, because you’ve got have one, and then you find the commercial terms don’t gel. In this case the commercial terms did gel,” he said.

The ACCC announced on 20 October 2009 that it would not oppose the acquisition.



Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Minters, Allens, work on Rio Tinto acquisition
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Dec 13 2017
Young humanitarian lawyer California-bound
A young Australian lawyer will be travelling to the US next year for a prestigious nine-month study ...
Jackie Rhodes
Dec 12 2017
Report sheds light on LGBTQI inclusion in law firms
A recent report has revealed the varying perceptions on LGBTQI diversity and inclusion in the Austra...
Women in business
Dec 12 2017
Annabel Crabb headlines Women in Business Forum
Political journalist Annabel Crabb has appeared at the Coleman Greig Lawyers Women in Business Forum...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...