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
Clifford Chance drinks from Foster's deal cup

Clifford Chance drinks from Foster's deal cup

The Australian arm of Clifford Chance has played a role on the proposed $9.9 billion sale of Foster's to SABMiller.Clifford Chance advised a host of financial institutions involved as the…

The Australian arm of Clifford Chance has played a role on the proposed $9.9 billion sale of Foster's to SABMiller.

Clifford Chance advised a host of financial institutions involved as the mandated lead arrangers and book runners on the proposed takeover, which has been recommended by the Foster's board.

Sydney-based partner Scott Bache and London-based banking and finance partner Geeta Khehar led the firm's team, with clients on the deal including the Bank of America, Barclays, Citi, J.P. Morgan, Mizuho, Morgan Stanley, Santander, The Bank of Tokyo-Mitsubishi and the Royal Bank of Scotland.

"Being able to work on such deals is one of the reasons we established a presence in Australia," said Bache.

Allens Arthur Robinson acted for Foster's, while Allen & Overy acted for SABMiller, in conjunction with Hogan Lovells, which advised on international aspects of the transaction.

By factoring in Foster's debt, the SABMiller bid values the Melbourne-based Australian brewer at around $12.3 billion.

While the deal represents good value to Foster's shareholders in a shrinking Australian beer market, some politicians and union groups have questioned the takeover, concerned by possible job losses and the loss of an Australian connection with brands such as Cascade and VB.

The Foster's stable also includes international brands Asahi, Corona and Stella Artois.

Foster's is hoping that the shareholder and court approvals required to have this deal completed will be finalised by Christmas.

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

Clifford Chance drinks from Foster's deal cup
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 & ...