G+T is pleased to have advised Macquarie Infrastructure and Real Assets and its managed funds (“MIRA”) and Aware Super (together, “the Consortium”) on its acquisition of Vocus Group Limited by scheme of arrangement.
Vocus, an ASX-listed telecommunications company offering fibre and network solutions connecting all Australian mainland capitals with Asia and the USA, implemented a scheme of arrangement under which 100% of Vocus was acquired by the Consortium, with Vocus shareholders receiving $5.50 cash per Vocus share.
Operating an extensive terrestrial network of c. 30,000 route-km of fibre-optic cable, including backhaul fibre across Australia and New Zealand and submarine cables connecting Singapore, Indonesia, East Timor and Australia, Vocus delivers broadband, mobile, voice and energy services via well-recognised brands including Dodo, iPrimus and Commander.
The G+T transaction team was led by Corporate Advisory partners Costas Condoleon and Kevin Ko, with lawyers Wes Bainbridge and Andrea Bennett heavily involved in the deal aspects. The deal team was supported by a large group of dedicated lawyers across the Firm who assisted with input into due diligence and regulatory matters.
Costas, co-head of the G+T Corporate Advisory group, and Kevin said: “It has been terrific to work with MIRA and Aware Super and their outstanding teams on this landmark transaction. This deal continues the growing trend of sponsors and superannuation funds targeting ASX-listed companies and infrastructure type assets”.
Banking + Projects partners John Schembri and Adela Smith advised the consortium on its debt arrangements together with lawyer Melissa Ramsay. John and Adela said: “The Consortium has secured a substantial and market leading debt package which will provide flexibility to support the long-term needs of Vocus into the future”.
Gilbert + Tobin’s market-leading M&A and Corporate team has advised on many of Australia’s largest and most innovative transactions, including recently advising Infigen Energy on the hostile takeover approach from UAC and the friendly approach from Iberdrola SA, giving Infigen an enterprise value of $1.3 billion, ARA Group on its unsolicited $2.3 billion proportional takeover bid for Cromwell Property Group, GrainCorp on the demerger of its international malting business by way of scheme of arrangement and ASX listing, and DuluxGroup on its $4.2 billion takeover by Nippon Paint via scheme of arrangement.