News

23/12/16

G+T advises on billion dollar Asian private equity acquisition

Gilbert + Tobin advises SAI Global Limited on billion dollar scheme with leading Asian private equity fund.

Gilbert + Tobin advised SAI Global Limited (SAI) on the scheme of arrangement that closed today, under which Baring Asia Private Equity Fund VI (through its wholly owned subsidiary Casmar (Australia) Pty Limited) acquired 100% of the shares in SAI Global for $4.75 per share.

The scheme of arrangement was overwhelmingly supported with 99.88% of the votes cast by shareholders in favour of the transaction.

With an implied enterprise value of $1.237 billion, the deal is the largest private equity backed public-to-private to complete in Australia since 2010.

Baring Private Equity Asia is one of the largest independent alternative asset management firms in Asia, advising funds with total committed capital of over US$10 billion. With its head office in Sydney, Australia, and more than 50 locations across Australia, Europe, North America, South Africa and Asia, SAI is a leading global provider of risk management products and services.  SAI’s integrated advisory services and platforms include risk management software, standards, regulatory content, compliance and certification programs. 

Partner Tim Gordon believes that Gilbert + Tobin’s expertise in advising on market-leading M&A deals positioned the team to seamlessly guide SAI through the transaction.

“We are delighted to have advised on this milestone transaction for SAI’s shareholders.  The success of this deal once again highlights Gilbert + Tobin’s ability to work commercially and responsively with our clients and their other advisers to deliver great outcomes.”

Partners John Williamson-Noble and Tim Gordon led the team, supported by all areas of the firm, including Banking & Infrastructure and Litigation.  The Gilbert +Tobin team included partners Steven Glass, Crispian Lynch and James Lewis, as well as lawyers Chris Morse, Alice Pailthorpe, Alexandra Whitby, Robert Trowbridge and Ash Wickremasinghe.

Gilbert + Tobin’s M&A team consistently advises on the largest and most complex deals in the market. The firm is currently advising Cover-More Group Limited on the recommended $741 million scheme proposal from Zurich Insurance Group Limited and APN Outdoor Group Limited on its proposed multi-billion dollar merger of equals with oOh!media Limited. 

In 2016 Gilbert + Tobin also advised on Australia’s largest 2016 M&A deal, the A$12.6 billion bid for Asciano, as well as the A$10.2 billion TransGrid deal. In 2015, the Gilbert + Tobin M&A team acted on four of the five largest M&A deals announced in Australia.

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