Freehills advised the Queensland Government on its first Public Private Partnership (PPP) project, the redevelopment of the Southbank Institute of TAFE in Brisbane. With a net value of about $550 million the project will see the Institute become a high-tech education and training precinct. The Axiom consortium, comprised of ABN AMRO, John Holland Construction and Spotless Facilities Management will develop the project under a 34-year contract.
The Freehills team, led by partners Peter Butler, Michael Back and David Templeman, advised the state government through all stages of the transaction, from the pre-feasibility study in 2002 to the tendering process and negotiations with the consortium. Their work covered risk analysis, construction, property, planning and environment, project finance and industrial/employee relations issues.
Hunt & Hunt advised plantation manager Sylvatech on its $41 million takeover by Great Southern Plantations. The takeover, which proceeded by way of an agreed bid, was urgently restructured after Cyclone Ingrid caused extensive damage to Sylvatech’s Tiwi Islands plantations.
The firm provided strategic legal advice on the terms of the agreed bid, the target’s statement and the restructuring of the bid. Partner Geoff Green led the Hunt & Hunt team, which also included Virginia Waterhouse, Peter Faludi, Richard Gabelich and Lynne Kinnear.
Gilbert + Tobin acted for E*TRADE Australia on its recent acquisition of 50 per cent of LINWAR Securities, an independent institutional equities adviser. Piper Alderman acted for LINWAR. The purchase price of $9.5 million was made in cash and E*TRADE shares, with a further $2 million payable in E*TRADE shares, depending on the performance of the business over the next two years.
Rachel Launders led the G+T team. In addition to the share acquisition and related shareholding arrangements, the companies agreed to a significant extension of the agreement under which E*TRADE provided execution, clearing and settlement services to LINWAR.