THE RECENT deal that saw the privatisation of business intelligence agency Veda Advantage was an example of the broad range of acquisitions private equity was now involved in, according one of those advising on the deal.
Minter Ellison advised Merrill Lynch and UBS, the lead arrangers and underwriters of the $814 million takeover of Veda by Merrill Lynch Global Private Equity and Pacific Equity Partners.
A total of $605 million in senior and subordinated acquisition facilities and ongoing working capital facilities, or debt, was used to make the purchase.
The deal was announced in April, and final shareholder approval was given at a meeting last month (see Lawyers Weekly issue 334, 20 April 2007).
Mallesons Stephen Jaques advised Veda Advantage, and Baker & McKenzie partners Brendan Wykes and Bryan Paisley acted for Merrill Lynch Global Private Equity and Pacific Equity Partners.
“This deal reflects private equity’s appetite for acquisitions in a broad range of market sectors, including specialised ones like the business intelligence sector,” said Minters’ lead partner John Mosley.
“It also illustrates that when institutional investors see the merits of a major transaction, the success of the deal is more assured.”
Other Minters lawyers working on the deal included special counsel, finance, Kirsty Low; partner in tax, Nathan Deveson; corporate partner Ron Forster; and Geoff Busch, a partner in Minters’ New Zealand office who advised on the NZ aspects of the deal.
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