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Firms help clean up waste company sale

Firms help clean up waste company sale

Addisons and Clayton Utz have advised in an off-market negotiated sale of a waste management company's assets.

Firms: Addisons (DoloMatrix International Ltd), Clayton Utz (Tox Free Solutions Ltd)

Deal: Off-market negotiated sale of DoloMatrix’s main undertaking to Tox Free Solutions

Area: Corporate

Value: $58 million

Key players: Partner Michael Ryan led the Addisons team.

Deal significance: Both DoloMatrix and Tox Free are publicly-listed companies, yet the transaction was achieved by way of an off-market negotiated sale, rather than a takeover or scheme of arrangement. This removed difficulties caused by having a small number of large shareholders holding a significant percentage of DoloMatrix. When the matter was put to DoloMatrix shareholders, the ordinary resolution passed easily and so the deal was finalised.

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