AMP-AXA merger moves a step closer; Nine Entertainment expands on-line presence
AMP-AXA merger agreement - $14.6bn
Firm: Clayton Utz
Lead Lawyers: Rod Halstead, Jonathan Algar
Client: AMP Limited
Firm: Freehills
Lead Lawyer: Baden Furphy
Client: AXA SA
Firm: Mallesons Stephen Jaques
Lead Lawyers: Alison Lansley, Stephen Minns
Client: AXA Asia-Pacific Holdings
• The scheme for this proposed merger, announced in November 2010, received approval from the Victorian Supreme Court on Monday, March 7 bringing the deal closer to completion
• AMP is a long standing Clayton Utz client. The firm also advised AMP on its previous takeover bid for AXA
• Mallesons partner Stephen Minns also advised AXA APH on its acquisition of Winterthur life’s Hong Kong operations
Nine Entertainment sale of Carsales.com.au - $565m
Firm: Gilbert + Tobin
Lead Lawyer: Peter Cook
Client: ACP Magazines
Firm: Arnold Bloch Leibler
Lead Lawyer: Jonathan Wenig
Client: Carsales.com.au
• This transaction involved a sell down of the 49.1% stake previously held by Nine Entertainment Co Holdings Pty Ltd. The sale was in block trade to a broad range of institutional investors at $4.92 per share
• Arnold Bloch Leibler has previously advised Carsales.com.au on its IPO and listing on the ASX. The firm also acted on the merger of Carsales.com.au with PBL’s previous on-line car sales business, carpoint
• Gilbert + Tobin also advised ACP Magazines on its 2007 acquisition of Emap Australia and considers Nine Entertainment Co (ACP’s parent company) a longstanding client
TUI/Intrepid travel joint venture – Undisclosed
Firm: Clayton Utz
Lead Lawyer: Ron Smooker, Nick Miller
Client: TUI Travel PLC
Firm: Norton Rose
Client: Intrepid Travel
• This joint venture will combine both companies’ international portfolios of adventure brands, including Oz Experience, Adventure Tours Australia and Gecko’s. TUI travel will acquire a 60% stake, while the remainder will be distributed between Intrepid Travel’s private shareholders
• Top 10 UK firm Norton Rose was chosen to advise Intrepid Travel, based mainly in the UK. Norton Rose Australia has not previously advised Intrepid Travel
Fairfax purchase of Occupancy Pty Ltd - $29m
Firm: Harris Freedman
Lead Lawyers: Jonathan Harris
Client: Occupancy Pty Ltd
• This deal sees Fairfax media extend its on-line transaction business with the purchase of holiday accommodation business Occupancy Pty Ltd
• Fairfax conducted all due diligence and legal work in-house, choosing not to engage external representation
• Boutique commercial law firm Harris Freedman was engaged by Occupancy Pty Ltd
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