find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Allens advises on $932m OneSteel acquisition

Allens advises on $932m OneSteel acquisition

Australian law firm Allens Arthur Robinson has advised steel giant OneSteel on its biggest acquisition in 10 years.

AUSTRALIAN law firm Allens Arthur Robinson has advised steel giant OneSteel on its biggest acquisition in 10 years.

Under the deal, OneSteel will acquire global mining leader Anglo American plcs Moly-Cop and AltaSteel businesses in the Americas for US$932 million.

Allens corporate partner Andrew Finch told The New Lawyer the deal was truly cross border as the firm coordinated a global due diligence comprising lawyers in Canada, Mexico, Chile and Peru.

Negotiations occurred in London in recent weeks, against a US law firm, with an Australian purchaser, he said.

Allens negotiated and drafted a share purchase agreement, provided advice to the OneSteel board, and facilitated the global coordination of anti-trust advice and filings.

“It was quite a number of weeks of detailed due diligence and coordinating due diligence across multi jurisdictions. We were dealing with documents in multiple languages - local firms do the review of the local documents and put it in to standard template. We streamline that and report through to the client. The client wants a single voice reporting to them – so we were the conduits. That was an interesting aspect of the deal,” Finch said.

OneSteel’s acquisition of Moly-Cop and AltaSteel will position OneSteel as a global player in grinding media and provide a platform for further growth in mining consumables, Finch said.

OneSteel is a long-time client of the firm. Finch says he has worked with them continuously, doing major acquisitions.

The firm acted for OneSteel when it listed on the ASX, as well as the transformational merger with Smorgon Steel in 2007.

Finch also worked with OneSteel in April 2009 on their capital raising. The firm also provides regular advice on litigation and finance, he said. Also, partner Wendy Peters, who led the competition elements on the most recent acquisition, is “a particular favourite for competition work” for OneSteel, Finch said.

The Australian team in this deal was “relatively small”, said Finch. It was the Australian lawyers’ job to make sense of the large amounts of documents being translated by local lawyers in Chile, Peru and Mexico.

AS well as Andrew Finch and Wendy Peter, finance partner Diccon Loxton, senior associates in corporate, Richard Bell and Annabel Verco and senior associates in competition, Alexander Gelis and Verity Quinn, worked on the deal.

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

Allens advises on $932m OneSteel acquisition
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Quentin Bryce
Oct 18 2017
DV has worsened in a generation: Quentin Bryce
Former governor-general of Australia Dame Quentin Bryce AD CVO has spoken of her deep distress about...
Oct 18 2017
Academics entertain the idea of law without lawyers
Researchers from Queensland will explore some of the most disruptive trends tipped to transform the ...
Please, Continue (Hamlet), Melbourne Festival
Oct 16 2017
Hamlet suffers slings and arrows of top Victorian barristers
Victorian judges and barristers have performed the unique play Please, Continue (Hamlet) at the Melb...
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'...
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...
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 & ...