find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Freehills helps San Miguel take a big bite of Berri

Freehills helps San Miguel take a big bite of Berri

Freehills acted for San Miguel Corporation on its purchase of a stake in Berri Ltd. The acquisition follows the Australian Competition and Consumer Commission’s (ACCC) rejection last November…

Freehills acted for San Miguel Corporation on its purchase of a stake in Berri Ltd. The acquisition follows the Australian Competition and Consumer Commission’s (ACCC) rejection last November of an earlier bid for Berri by Coca Cola Amatil Australia.

The law firm said the transaction involved San Miguel acquiring a 50 per cent stake in Berri, with the remaining 50 per cent currently held by Douglas S. Shears. The transaction valued Berri’s total business at $335 million.

The acquisition is part of San Miguel’s Asia-Pacific expansion program and strategy to acquire businesses with a strategic fit to San Miguel’s existing beer, liquor, soft drink and food businesses.

The deal will add Berri’s Daily Juice, Just Juice, Mildura Sunrise and Mr Juicy brands to San Miguel’s existing products and should help increase the distribution of Berri’s products throughout the Asia Pacific.

Freehills said its role involved the negotiation of the terms of the acquisition and “ancillary matters” such as performing due diligence on the fruit juice company and assisting in obtaining regulatory approvals.

The law firm said a number of complexities arose in the transaction.

These were due to Berri’s pre-transaction operational structure, the need to deal with numerous shareholders and the ACCC’s increased sensitivity towards Berri as a result of the regulator’s rejection of Coca Cola Amatil Australia’s offer to acquire Berri (see ‘New reality follows Coke decision?’, Lawyers Weekly, 16 January 2004, p10).

Freehills said they had to provide a significant amount of technical assistance to overcome tight deadlines (approximately two months from the commencement of due diligence).

The Freehills team was led by partners Leon Pasternak, Michael Ziegelaar and Stephen Dobbs and included senior associates Allon Ledder and Sunil Patel.

“It is a delight to be able to help overseas investors who show confidence in the Australian economy and its people,” Pasternak said. “San Miguel is a sophisticated user of legal services globally. It’s comforting to know that Australian law firms stack up with the best international firms that operate in the region.”

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

Freehills helps San Miguel take a big bite of Berri
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
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 & ...