find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Gift cards bought out

Gift cards bought out

Maddocks advised card operator and payments processor, Retail Decisions, on its $30 million acquisition of Australia’s largest pre-paid gift card operator E Com Industries, represented by…

Maddocks advised card operator and payments processor, Retail Decisions, on its $30 million acquisition of Australia’s largest pre-paid gift card operator E Com Industries, represented by Mallesons Stephen Jaques.

Sydney-based E Com has launched more than 30 gift card schemes in the past three years for blue chip retailers, including Coles Myer and Woolworths. Retail Decisions is listed on the London Stock Exchange.

Commercial partner Jonathan Ambler led Maddocks’ team on the transaction, assisted by senior associates Robert Gregory, Andrew Kaynes and Kate O’Connor, while David Storr and Adam Teare led Mallesons’ team. According to Ambler, what was interesting was the state of the business and its position in a rapidly growing market.

“E Com has established itself as a major provider of electronic online redeemable card facilities in Australia. The plan is for Retail Decisions to migrate that model to other countries.”

Challenges included assisting the lawyers in the UK to deliver the funding for the transaction, which was arranged through a combination of debt, a placement and an open offer in the UK. Also, E Com had a large group of shareholders, so the lawyers were dealing with a large vendor base and negotiating with a collective group of shareholders with different interests.

“When you have a listed company buying into an entrepreneurial, young company, it is always an interesting transaction,” Ambler said.

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

Gift cards bought out
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Dec 13 2017
Young humanitarian lawyer California-bound
A young Australian lawyer will be travelling to the US next year for a prestigious nine-month study ...
Jackie Rhodes
Dec 12 2017
Report sheds light on LGBTQI inclusion in law firms
A recent report has revealed the varying perceptions on LGBTQI diversity and inclusion in the Austra...
Women in business
Dec 12 2017
Annabel Crabb headlines Women in Business Forum
Political journalist Annabel Crabb has appeared at the Coleman Greig Lawyers Women in Business Forum...
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 & ...