Clayton Utz advised on the sale of the Australian company Oil Treatment Services Pty Ltd (OTS) to joint venture partner, London AIM listed HydroDec Group plc. Partner Peter Shaw led the team, which included intellectual property partner Peter Knight and senior associates Steven Kubicki and Natasha Goulden, which advised OTS shareholders on the sale. Minter Ellison represented HydroDec.
HydroDec acquired the entire issued share capital of OTS and its transformer oil re-refining and regeneration site in Young, New South Wales. The transaction involved a cross-border issue of shares as part of the consideration for the share sale, IP ownership and environmental law issues. Shaw said the transaction was a good example of the complexity of deals occurring in the small to medium enterprise space. “Just because the sale price isn’t in the billions of dollars doesn’t mean there aren’t difficult issues to analyse and resolve,” he said.
Hall & Wilcox advised on the establishment of the APN European Retail Property Trust, the first ASX-listed property trust invested exclusively in European real estate. The firm acted for APN Funds Management and APN’s joint venture partner (UK Australasia Group, a UK property management group) in the trust’s establishment and capital raising.
The new trust raised more than $182 million to fund the acquisition of a $370 million portfolio of shopping centres in Spain and Italy. JP Morgan and Merrill Lynch were joint underwriters on the offer. The trust adds to APN’s eight property funds, which collectively hold assets of $1.9 billion. Hall & Wilcox corporate and financial services partner Tony Macvean said the trust was unique to APN and the ASX. “This transaction involved project managing six major acquisitions — with three vendors, multiple adviser firms, like Allen & Overy and Clifford Chance, and complicated commercial negotiations,” he said.