Foreign investment into Australia

Freehills has the legal expertise and track record to help make any international investment in Australian assets a smooth and efficient process. Our knowledge of the relevant issues across a variety of industry sectors allows you to navigate through the regulatory framework and achieve your commercial objectives.

From oil and gas, the mining and power sectors through to financial services, manufacturing and property, we have assisted in closing foreign investment deals. We have demonstrated expertise in acquisitions and acquisition finance, intellectual property, tax, portfolio development in Australian assets, debt issuance into Australia, media and broadcasting operations in Australia, and other sensitive sectors such as airlines and airports. Freehills' team also has experience in greenfields and brownfields resources and infrastructure development projects and in obtaining financial services licences.

We assist clients with foreign investment approvals including their obligations under the Foreign Acquisitions and Takeovers Act 1975 (Cth) and other sector-specific legislation.  We also assist with the preparation of formal notices and submissions, and liaise with relevant public officials during consideration of foreign investment proposals. If required, we can act as an intermediary in negotiations with appropriate government bodies during the approval process. For example, when competition law issues are considered as part of the foreign investment proposal.

We have significant experience on a large number of foreign investment proposals.

Australian organisations investing offshore

A successful offshore acquisition or investment not only requires excellent local legal knowledge and technical know-how, but also requires effective partnering with advisers in the target’s jurisdiction to ensure that your commercial objectives are met. The efficient project management of international transactions is one of Freehills’ key strengths and frees up executive time.

As trusted domestic legal advisers we bring our knowledge of the client's key commercial concerns and proven solutions to the deal team. At rates which compare very favourably with other international law firms, we provide world-class advice on all the legal aspects of offshore acquisitions, including managing the output of local advisers, overseeing and engaging in due diligence processes, and documenting and negotiating the key terms of a deal.

Foreign investment into Australia

Our experience includes advising:

• several sovereign wealth funds on their investments in Australian assets.
• Babcock & Brown (and a number of its affiliated managed funds) and Singapore Power, acting through a consortium with several Babcock & Brown managed funds and Singapore Power International Pte Limited, on its A$8 billion acquisition of the whole of the issued share capital of Alinta Limited.
• Peabody Energy Corporation’s $2.04 billion acquisition of Excel Coal.
• Tullow Oil plc’s $1.47 billion acquisition of Hardman Resources.
• Bupa’s $2.4 billion merger with MBF Australia Limited and its $1.2 billion acquisition of DCA Aged Care Group.
• Seven Network on its $4 billion media joint venture with Kohberg Kravis Roberts & Co.
• Texas Pacific Group on the proposed A$11.1 takeover of Qantas Airways.
• global eyewear manufacturer Luxottica on its acquisition of Australian eyewear leader OPSM.
• North West Shelf Venture in the upstream equity sale to CNOOC Limited, as part of its US$14 billion gas export contract to supply natural gas to China. The contract is Australia's largest ever single export deal.
• members of Ontario Teachers’ Pension Plan and AIG as Australian counsel in the purchase of InterGen’s Australian assets.
• a consortium comprising Tokyo Electric Power Company and other investors on the A$3.5 billion acquisition of Loy Yang Power.
• ConocoPhillips on the acquisition of BHP’s interest in Bayu-Undan. Freehills was involved in all aspects of the development of Bayu-Undan gas recycle project and Darwin LNG project, including project structuring, construction, the feed gas and transportation arrangements and the LNG sale and purchase arrangements.

Australian organisations investing offshore

Our experience includes advising:

• Industry Funds Management’s £2.25 billion acquisition of AWG plc.
• Orica Limited on its A$900 million purchase of the European, Middle Eastern, African, Asian and Latin American operations of global explosives company Dyno Nobel.
• Macquarie Communications Infrastructure Group (MCIG) on its capital raising to fund its acquisition of the UK telecommunications business of NTL and NTL Digital, together known as ntl:Broadcast.
• Lend Lease Corporation Ltd in relation to the construction and development of the Bluewater regional shopping centre in Kent, United Kingdom.  
• Development Australia Fund Management Limited in its capacity as a major equity participant in the £1.2 billion (A$3.1 billion) acquisition of the Wales and the West gas distribution network from National Grid Transco plc in the UK.
• Hastings Funds Management Limited and Utilities Trust of Australia in relation to the UK acquisition of Mid Kent Water, with an implied enterprise value of A$581 million. Subsequent to the acquisition, Freehills has also assisted Hastings on a A$110 million public issue of hybrid securities by one of its funds to assist with the financing of the transaction, and on the subsequent acquisition of South East Water in the UK for A$1.6 billion.