find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Firms share in success of Dick Smith IPO

Firms share in success of Dick Smith IPO

Dick Smith Holdings has launched on the Australian Stock Exchange.

Firms: Minter Ellison (Dick Smith Holdings); Gilbert + Tobin (joint lead managers)

Deal: Dick Smith’s initial public offering (IPO) on the ASX

Area: Equity Capital Markets

Value: $520 million

Key players: Minters corporate partners Callen O'Brien (pictured) and Daniel Scotti led the transaction, with assistance from senior associate Jacqueline How, associate Joel Farina and lawyers Shane Lawrie and Andrew Hewson. Goldman Sachs and Macquarie Capital were the joint lead managers, which were represented by G+T; G+T’s team was led by partner Peter Cook, with support from lawyers Adam D'Andreti and Sarah Duerdoth. Deloitte was the investigating accountant and Ernst & Young was the tax advisor.

Deal significance: Shares representing 66.2 per cent of Dick Smith's capital are being offered at $2.20 per share, implying a market capitalisation of more than $520 million. On completion of the IPO, the business' current majority owners, being funds managed by Anchorage Capital Partners, will hold 20 per cent of Dick Smith's issued share capital. Shares are scheduled to begin trading on 4 December. Minter Ellison advised Dick Smith on all legal aspects of the IPO and listing, including legal due diligence investigations, regulatory requirements and a renegotiation of its debt facilities. Minters’ lead partner Callen O’Brien commented:This transaction is a wonderful example of private equity identifying a non-strategic business of a larger corporation, and then working with an excellent management team to execute a turnaround plan and enable the company to grow and create significant value.  We'd like to congratulate Anchorage Capital and Dick Smith's management team, lead by Nick Abboud, on this milestone transaction. It is an outstanding result.”

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

Firms share in success of Dick Smith IPO
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
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 & ...