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Top-tier helps US company land The MAC
Mallesons Stephen Jaques and Freehills have acted on the planned $651 million acquisition of Australia's MAC Services Group Limited (The MAC).The Houston based Oil States International has made…
Lawyers Weekly
Mallesons Stephen Jaques and Freehills have acted on the planned $651 million acquisition of Australia's MAC Services Group Limited (The MAC).
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The Houston based Oil States International has made an offer for The MAC, Australia's largest publicly traded operators of remote mining area accommodation, through the acquisition of all of its shares at $3.90 per share.
The MAC's directors have unanimously agreed to advise shareholders to accept the offer.
Mallesons acted for Oil States International, with Sydney based M&A specialist Lee Horan leading his firm's team.
Freehills acted for The MAC, with the team led by corporate partners Tony Damian and Andrew Rich. Credit Suisse acted as the financial advisor to the Australian based company.
The MAC currently operates from five villages in the metallurgical coal producing region of the Bowen Basin in Queensland, and owns one village in Western Australia.
The company also has future expansion projects in NSW and South Australia, and employs over 400 people.
In addition to providing remote site accommodations, Oil States International provides oil and gas production related machinery for rent, and manufactures products for deepwater production facilities and subsea pipelines.
