Gilbert + Tobin has advised Hastings Deering Group on its acquisition of leading provider of rental and maintenance services, Salmon Earthmoving Holdings, which has been servicing clients in the civil construction, agricultural and mining sectors for over 70 years. Hastings Deering is a subsidiary of Sime Darby Berhad, a multi-national public company listed on the Bursa Malaysia Stock Exchange. Through the acquisition, the Group has strengthened its market leadership as an equipment dealer in Australia, New Zealand, Papua New Guinea, Solomon Islands and New Caledonia.
Corporate Advisory partner Adam Laura who led the deal, said “We are delighted to have advised Hastings Deering on this transaction and are confident that their involvement in the business will allow it to continue to grow.”
Adam was supported by Corporate Advisory consultant Michael McDonald and lawyers Elizabeth Lathlean and Srivatsav Moorthy, with the related property transactions undertaken by partner Amanda Hempel and special counsel Jo Bayes.
Gilbert + Tobin’s market-leading Corporate Advisory team, which boasts some of Australia’s leading M&A and Private Equity lawyers, has advised on many of Australia’s largest and most innovative transactions, including advising Anheuser-Busch InBev on the $16 billion sale of Carlton & United Breweries to Asahi Group, KKR on the proposed acquisition of a 55% interest in Colonial First State (CFS) and establishment of a joint venture with Commonwealth Bank of Australia, with the transaction valuing CFS at $3.4 billion, GrainCorp on its $3.3 billion approach from Long-Term Asset Partners and Infigen Energy, Australia's largest listed renewable energy business, in relation to the successful billion-dollar recommended takeover by Iberdrola, S.A.