find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Trio acts on consortium acquisition

Trio acts on consortium acquisition

Minter Ellison has advised Redflex Holdings Ltd on its decision to enter into a scheme implementation agreement with an entity associated with The Carlyle Group and Macquarie Group Ltd under…

Minter Ellison has advised Redflex Holdings Ltd on its decision to enter into a scheme implementation agreement with an entity associated with The Carlyle Group and Macquarie Group Ltd under which the consortium will acquire all ordinary shares in Redflex.

Gilbert + Tobin advised The Carlyle Group while Corrs Chambers Westgarth advised Macquarie Group.

Under the terms of the agreement, the consortium will pay $2.70 cash per share where the Australian/US dollar exchange rate is within the range of $US0.98 cents to $US1.02. An adjustment will be made to the offer price if the dollar exchange rate moves out of that range.

The transaction is subject to shareholder approval, court approval and other conditions.

The takeover proposal values Redflex at $340 million on an enterprise basis.

The Board of Redflex unanimously recommended the takeover proposal to shareholders in the absence of a superior proposal and subject to an independent expert concluding that the proposal is in the best interests of shareholders.

Headquartered in Australia but predominantly based in the United States, Redflex manufactures and operates highway safety equipment. The company's traffic enforcement products and services include the largest network of digital speed and red-light cameras in the world.

Minter Ellison's Alberto Colla and Joseph Pace acted on the deal, along with Gilbert + Tobin's Bryan Pointon and Andrew Cook, and Corrs' Braddon Jolley.

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

Trio acts on consortium acquisition
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
microphone
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
protest
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
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 & ...