Allens Arthur Robinson (AAR) has helped put together a complex multi-jurisdictional deal between two of the world's largest electronic companies.
In a $1 billion deal, French-based Schneider Electric will acquire the core electrical wiring accessories business of Adelaide-based Gerard Industries. Schneider will also enter a joint venture with Singapore-listed Clipsal Industries (Holdings) throughout Asia and the Middle East, to combine their respective wiring accessories businesses in those regions.
The Asian joint-venture will help continue Cipsal's rapid growth in Asia.
AAR acted for Schneider in the transaction with Norman Waterhouse acting for Gerard Industries and Allen & Gledhill of Singapore for Clipsal.
“This was a deal that stretched across 13 countries in Asia and involved seven offices in our regional network,” said AAR partner Jim Thynne.
“What’s more, it involved lawyers from eight of the firm’s practice groups and departments working together to get the deal done,” he said.
Thynne, who along with Richard Malcolmson was the lead partner on the transaction, said the deal’s complexity was made easier by having a network or experts around the firm to call on.
“You’re getting due diligence co-ordinated from Hong Kong, employment advice from Melbourne, partners in Shanghai and Bangkok working on key issues and meetings being held in our offices around the region,” said Sydney-based Thynne. “Transactions like this highlight why we merged as a law firm two years ago. It’s the benefit of having people on the ground throughout the Asia Pacific and a culture that ensures our staff work together seamlessly for the client’s benefit.”
The deal is one of the largest in Australia this year and has been described by both parties as a ‘win-win’.