Gilbert + Tobin has acted for ACP Magazines, a subsidiary of Nine Entertainment Co. Holdings Pty Limited, on its $565 million sell down of its 49.1 per cent stake in carsales.com Limited, advised by Arnold Bloch Leibler.
This was achieved through a block trade to institutional and sophisticated investors announced this week.
Capital markets partner Peter Cook led the transaction and was assisted by lawyer Rachael Bassil.
"Nine Entertainment Co. has been a long standing client of the firm and we are pleased to be able to assist them on this significant transaction," said Cook.
The Australian branch of UBS AG was the underwriter of the sale.
Jonathan Wenig of Arnold Bloch Leibler acted for carsales.com Limited.