Gresham sells stake in Ausdrill
Baker McKenzie has acted for Gresham on its sale of a 9 per cent stake in Ausdrill.
Firm: Baker McKenzie (Gresham Private Equity Limited)
Deal: Baker McKenzie has acted on block trade for Gresham Private Equity Limited in the sale of their 9 per cent stake in Ausdrill Limited.
Value: $90 million.
Area: Equity capital markets transaction.
Key players: Baker McKenzie’s team was led by head of equity capital markets Craig Andrade and assisted by lawyer Matthew De Cataldo.
Deal significance: Baker McKenzie signed and executed a block trade on behalf of Gresham and its associated entities over its stake in one of Australia’s largest mining services contractor. JPMorgan was awarded the sale, who agreed to underwrite it at the closing price and without any additional discount.
Mr Andrade said on the sale: “We were delighted to act for our longstanding client Gresham on its successful block trade, following its complex sale last year of the Barminco business to Ausdrill.”