Freehills has been named Australian M&A Legal Advisor of the Year at the inaugural Financial Times-Mergermarket M&A Awards Asia, held in Hong Kong last night. The event, run jointly by the prestigious international publication and the global M&A intelligence organisation, recognised and celebrated the successes in M&A during 2008 throughout the region.
Richard Loveridge, head of Freehills’ corporate practice group, acknowledged the role of both clients and staff in the win. ‘We would like to thank our clients, who enable us to work alongside them as they navigate strategically important transactions,’ he said. ‘Freehills is proud to have advised on some of the most complex and strategic corporate transactions in Australia and throughout Asia-Pacific region this year. We would also like to thank our people for their drive, dedication and commitment to achieving strong client outcomes.’’
Freehills’ M&A highlights for the year include:
- acting for Bupa Australia on its $2.41 billion merger with MBF to create Australia’s leading private health insurance group. The merger was by way of a scheme of arrangement. This is the biggest deal in the private health insurance industry and one in which many hundreds of thousands of Australians are stakeholders;
- advising Santos on the US$2.508 billion partnership with PETRONAS to develop the Gladstone LNG project. The transaction raised the pricing levels for eastern Australian gas resources to unprecedented levels;
- acted for Mitsubishi Development (in its role as joint venturer with BHP Billiton in the alliance known as the BHP Billiton Mitsubishi Alliance) on the US$2.4bn acquisition of the New Saraji Project in Queensland from New Hope Coal;
- advising National Hire Group Limited on its successful $2.9 billion scheme of arrangement with the Carlyle Group to acquire Coates Hire Limited. This transaction represents Australia’s largest ever leveraged buy-out of a publicly listed company;
- advising Commonwealth Bank of Australia on its $2.1 billion acquisition of BankWest; and
- advising Just Group on its $900 million takeover by Premier Investments.
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