find the latest legal job
Legal Inhouse / Lawyer / Company Secretary
Category: Other | Location: Brisbane QLD 4000
· Fantastic Company · Potential to be Part Time / Flexible Work Pattern
View details
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
In-House Legal Counsel (Mid to Senior)| Regulated Markets (Energy and Gas)
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Full PD on Request · Exciting High Impact Role
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
View details
Phillips Fox aids global Avaya sale

Phillips Fox aids global Avaya sale

Phillips Fox acted for multinational Avaya Inc on the Australian and South Pacific aspects of the company’s US$250 ($315) million-plus global sale of its connectivity and cabling business to…

Phillips Fox acted for multinational Avaya Inc on the Australian and South Pacific aspects of the company’s US$250 ($315) million-plus global sale of its connectivity and cabling business to CommScope.

Avaya designs, builds, deploys and manages communications networks and systems for 90 per cent of the Fortune 500 base of companies. It has more than a million customers worldwide and operates in more than 100 countries.

Corporate partner Charles Mendel said the complex deal involved a wide array of assets, including tooling and manufacturing capacity, logistics, IT and delivery systems as well as relevant intellectual property related to the business. It also covered a large number of jurisdictions, one global asset sale agreement and “a host of local arrangements requiring documentation in tandem with the global agreement”.

“A close working team consisting of the client and the legal representatives in Sydney, Singapore and New York enabled potential roadblocks to be anticipated, assessed and removed before they became an issue, and ensured that the transaction closed on time.

“A novel set of transitional arrangements saw Avaya exit the business on a full indemnity basis while still retaining revenue upside during the transition period,” Mendel said. This meant that although Avaya had an ongoing role for a set period, 100 per cent of the risk associated with that role had been transferred to the purchaser.

Avaya sold its Connectivity Solutions business for a total of US$250 million in cash, and 1.8 million shares. At the time that the agreement between CommScope and Avaya was announced on 27 October last year, the shares were valued at $US22.9 million, and at the close of business on 30 January this year they were valued at US$32.8 million.

Weil, Gotshal & Manges represented the company in the US.

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

Phillips Fox aids global Avaya sale
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Anti-radicalisation programs playing ‘second fiddle’ to terrorism laws
Several academics have questioned the balance between Australia’s counterterrorism legislation and...
 William Ah Ket
‘Bamboo ceiling’ thought piece wins inaugural law prize
A paper that explores the idea of affirmative action to achieve greater diversity among members of A...
Nov 22 2017
Reduced investment protections will make robust commercial arbitration mechanisms all the more critical for investors
Promoted by Maxwell Chambers. This article discusses the current trend away from investor protect...
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'...
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...
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 & ...