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Bid for Healthscope approved

Bid for Healthscope approved

Mallesons Stephen Jaques has acted for a syndicate of 17 banks on Australia's largest private equity deal since 2007. The $2.7 billion TPG and Carlyle bid for Healthscope was on Friday (24…

Mallesons Stephen Jaques has acted for a syndicate of 17 banks on Australia's largest private equity deal since 2007.

The $2.7 billion TPG and Carlyle bid for Healthscope was on Friday (24 September) approved in the Supreme Court.

Shareholders earlier this week approved the bid for the Melbourne-based health care provider with 99.5 per cent of votes in favour of the deal.

The Mallesons team was led by Melbourne partner Jeff Clark, who was assisted by senior associate Andrew Maynes.

Clark said this was the first test of the capacity of Australian debt markets to support a large private equity deal since 2007.

"The size of the debt facilities dwarfs any recent transactions and hopefully heralds a new beginning in the leveraged finance market," he said.

Freehills was the M&A advisor to Sponsors, Gilbert + Tobin was the banking advisor to Sponsors and Minter Ellison acted for Healthscope.

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