Corporatisation and Privatisation
Clayton Utz is an acknowledged leader in privatisation and industry reform, having provided legal advice on some of Australia’s largest corporatisation and privatisation projects over the last two decades, acting for governments and bidders. We are known for our ability to quickly and effectively apply our expertise to the most complex industry structures and regulatory regimes.
- an excellent, longstanding track record of advising Government at all levels and their agencies on complex, novel and sometimes politically sensitive projects
- experience and knowledge of the considerations and tactics of acting on the bidder side
- multidisciplinary teams of specialists tailored to each project
- innovative solutions balancing highest quality service and cost containment
- approachable, resourceful and responsive partners
- experience, tools and project management skills to ensure the efficient and timely execution of the project.
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Our team has been involved in some of Australia's most significant corporatisation and privatisation projects over the last two decades. Our past roles on many privatisation projects have given us a full appreciation of the commercial sale issues, strategy and process. This has included roles acting for governments and bidders on sale processes executed as both trade sales and IPOs over a range of industries.
We appreciate the policy considerations such as stakeholder impact, the minimisation of financial risks and the ongoing provision of services, and take a collaborative approach to all projects.
We have an understanding of the special requirements of government clients, and many of our partners and lawyers have worked in, or been seconded to, areas of government. Members of our team have expertise in:
- Advising on and implementing detailed privatisation readiness programs
- Legislative requirements and Parliamentary accountability issues
- Processes of government (including Ministerial powers and functions, probity and audit)
- Relationships between corporatised entities and government
- Crown Immunity issues
- Capital restructuring requirements
- "Whole of government" issues
- Composition and duties of the Board
- Sale processes (and, in particular, competitive tender processes)
- Asset transfer mechanisms
- Public floats
- Due diligence
- Regulatory compliance
Our core team is supported by lawyers with expert skills in equity capital markets
, major projects
, competition law
, intellectual property
, workplace relations
, real estate
- Tote Tasmania: Advising the Tasmanian Government on the sale of TOTE Tasmania.
- Hobart International Airport: Advised the Tasmanian Government on the sale of Hobart International Airport.
- Employment National: Advised Employment National on the trade sale of its business units by the Commonwealth.
- Airports: Advised the Commonwealth on the sale of Essendon, Melbourne, Brisbane and Perth airports.
- Commonwealth Bank: Advised the Commonwealth on the final tranche sale of Commonwealth Bank (CBA3).
- Origin Energy: Advised Origin Energy on the acquisition of Sun Retail from the State of Queensland.
- Golden Casket: Advised the State of Queensland on the sale of Golden Casket to Tattersall's Limited.
- Dampier to Bunbury pipeline: Advised the financiers of EPIC's $2.4 billion bid for AlintaGas's Dampier to Bunbury pipeline. Electricity and gas retailers and distributors: Advised bidders and financiers on various bids for the privatised Victorian electricity and gas retailers and distributors.
- NSW Treasury: Advised NSW Treasury on the $574 million trade sale of State Bank of NSW.
- NSW Racing Industry: Advised NSW Racing Industry on the privatisation of NSW TAB and industry restructure.
- FreightCorp and National Rail: Advised the purchaser of the FreightCorp and National Rail operations which sold for $1.2 billion by way of competitive trade sale.
- NSW Electricity Reform Taskforce: Advised the NSW Electricity Reform Taskforce on structural and market reform of NSW electricity.
- Capital Airport Group: Advised Capital Airport Group on its acquisition of Canberra International Airport from the Commonwealth.
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