Hall & Wilcox represented the APN Property Group in its $115 million IPO and planned Australian Stock Exchange (ASX) listing. The company, which specialises in property funds management, wants to raise $31 million to grow its property funds management operations and establish a number of new funds, including the first Australian ASX-listed European retail property fund. Tony Macvean led the legal team, assisted by senior associate William Khong, and worked on the prospectus, which was lodged with the Australian Securities and Investments Commission in early May. Macvean said the transaction demonstrated that mid-sized firms had the expertise and resources to act for clients in substantial transactions such as this.
Blake Dawson Waldron acted for San Miguel Corporation on its successful takeover of National Foods. The $1.9 billion bid was the largest in Australia’s dairy industry and came after a bidding war with NZ dairy cooperative Fonterra. San Miguel Corporation now owns 80 per cent of National Foods. San Miguel is the largest publicly listed food, beverage and packaging company in the Philippines and National Foods is one of Australia’s largest ASX-listed dairy food companies. Blakes advised San Miguel on all aspects of the bid, including M&A, financing and its application to the Takeovers Panel (relating to disclosure of Fonterra’s proposed joint venture arrangements).
Joint head of Blake’s national M&A practice, Marie McDonald, led the team, assisted by special counsel Bruce Dyer and senior associates Darren Mackenzie, Rod Bordignon and Kim Rybarczyk and senior lawyer Maggie Chen. Freehills acted for National Foods on the deal.
Skadden, Arps, Slate, Meagher & Flom is representing North Carolina-based Duke Energy Corporation on its proposed acquisition of Ohio-based Cinergy Corp for approximately $12 billion.