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Top fees for firms in merger deal

Top fees for firms in merger deal

Mallesons Stephen Jaques and Freehills have commanded top fees for acting on a merger that will see the creation of a $2.5 billion infrastructure group.The merger between Brookfield…

Mallesons Stephen Jaques and Freehills have commanded top fees for acting on a merger that will see the creation of a $2.5 billion infrastructure group.

The merger between Brookfield Infrastructure and Prime Infrastructure was given clearance regarding some antitrust concerns earlier this week with Mallesons acting for Brookfield and Freehills acting for Prime.

It was reported that Mallesons earned around $1.4 million in fees for the deal, with Freehills unable to confirm with Lawyers Weekly whether its fees matched that of its rival top-tier firm.

Under the terms of the transaction, Brookfield have agreed to acquire the remaining 60 per cent stake in Prime, with Brookfield issuing 0.24 units for each Prime Infrastructure share.

The transaction is subject to approval from a range of regulatory bodies, including ASIC, the ASX, the New York Stock Exchange and the European Competition Commission.

The Mallesons team was led by partners Barry McWilliams and David Eliakim, with Freehills partners Philippa Stone, Tim McEwen and Melita Cottrell were all involved.

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