Gilbert + Tobin is pleased to announce that it is advising Superloop Limited on its $224 million proposed acquisition of BigAir Group Limited by way of scheme of arrangement and related debt and equity raisings.
Under the proposed transaction, BigAir shareholders will be able to elect to receive either new Superloop shares or a mix of cash and new Superloop shares (subject to an overall cash cap) as consideration for the acquisition of their BigAir shares. The deal is subject to customary conditions including approval by BigAir shareholders and the Court.
BigAir owns and operates one of Australia’s largest metropolitan fixed wireless broadband networks and provides cloud and managed services solutions to mid-sized corporates, and is a strong strategic fit with Superloop, one of the leading independent providers of interconnection services in the Asia Pacific region, including fibre networks in Australia, Singapore and Hong Kong.
Gilbert + Tobin worked to a tight and demanding timeframe to support the transaction, including input on the deal design, drafting and negotiating all of the transaction documentation, undertaking legal due diligence, and finalising the debt and equity raisings, all within one week of being engaged by Superloop.
The Gilbert + Tobin’s Mergers and Acquisitions (M&A) team was led by partner Costas Condoleon and lawyers Kevin Ko, Mirela Leko, Annabel Humphreys and Megan Coffey. The Gilbert + Tobin banking team was led by partner John Schembri and lawyers Spiro Papadolias and Corrie Eames. Lawyers from our other specialist practices were also involved.
Gilbert + Tobin’s M&A team consistently advise on the largest deals in the market including the A$12.6 billion bid for Asciano, Australia’s largest 2016 M&A deal to date, as well as the A$10.2 billion TransGrid deal. In 2015, the M&A team acted on four of the five largest M&A deals announced in Australia.