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Global firms strike it rich on oil merger

Global firms strike it rich on oil merger

King & Wood Mallesons and Herbert Smith Freehills played leading roles on a major energy & resources deal.

 

Firms: King & Wood Mallesons (Horizon Oil); Herbert Smith Freehills (Roc Oil)

 

Deal: Horizon Oil Pty Ltd’s merger with Roc Oil

 

Value: $800 million

 

Area: M&A

 

Key Players: The KWM team was led by Brisbane-based partner Stefan Luke (pictured), with assistance from senior associate Rhys Casey and solicitors Steve Mylonas and Jack Handford. HSF’s team comprised partners Robert Merrick and Tony Damian, senior associate Li-Lian Yeo and graduate Amelia Morgan

 

Deal Significance: The “merger of equals” between the two Australian companies has the support of the respective firms’ boards, but there has been shareholder unrest, with the fund manager Allan Gray, which has a 20 per cent stake in Roc Oil, wanting a shareholder vote on the deal, which is due to be completed in August. 

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