Mergers & Acquisitions
ConocoPhillips: we advised NYSE-listed ConocoPhillips on its arrangements with Santos Limited to acquire ConocoPhillips' Australia-West and East Timorese assets and operations for $US1.39bn ($A2.2bn). The Clayton Utz tax team worked alongside our oil and gas specialist team and ConocoPhillips' legal, tax and commercial teams on all aspects of this strategic sale process.
BGH Capital: we advised BGH Capital on its acquisition of TSS, one of 12 cybersecurity firms to create CyberCX. This is the largest private security investment in cyber security in the country.
Confidential: we are currently advising a large listed mining company and its subsidiaries on the A$500m internal restructure of its assets.
Macquarie and Brookfield: in one of the most significant M&A transactions in the energy and resources sector, we advised a consortium of sellers led by Brookfield and Macquarie on the tax considerations of the US$2.15bn sale of Quadrant Energy to Santos Limited.
APLNG: we advised APLNG on all tax aspects of its indirect acquisition of coal mining assets in Queensland from Origin for A$231m.
Saputo: we advised Saputo on its A$1.3bn acquisition of Australia's biggest milk processing company, the co-operative company Murray Goulburn. This involved advice on all tax aspects of the acquisition structuring and post-acquisition restructuring to accommodate ACCC issues. We advised on significant income tax and stamp duty issues.
Tattarang: we advised Tattarang, one of Australia's largest private investment groups owned by Andrew and Nicola Forrest, on its purchase of iconic Australian company R.M. Williams from L Catterton, the largest consumer-focused private equity firm in the world. Our tax team worked alongside a multi-disciplinary Clayton Utz legal team in advising Tattarang on this landmark transaction.
Tox Free Solutions Ltd: in one of the largest Australian public M&A transactions announced in 2017, we advised Tox on the tax implications of the scheme of arrangement with Cleanaway. Our tax advisory team was instrumental in helping Tox navigate the complexity of timing the transaction to ensure the intended tax outcomes for shareholders were achieved.
Woolworths: we advised Woolworths on the tax aspects of its sale of its petrol station business and 526 petrol station sites to EG Group, an overseas entrant to the Australian market, for A$1.725bn.
Macquarie Bank Limited: we advised MBL on all tax aspects of its $8.45bn acquisition of the Esanda Finance assets from ANZ Bank.
China Investment Corporation: in the largest direct property sale in Australian history and one of the largest globally in 2015, we advised CIC on all tax aspects of its $2bn acquisiton of the Investa Property Trust.
EMR Capital Resources Fund II: we advised EMR Capital on the structuring of its A$2.9bn acquisition of the Kestrel Coal Mine from Rio Tinto. Our tax advisory team worked closely with EMR Capital during the very competitive bid process which required agile implementation of the structure to assist in securing the investment.
Intermediate Capital Group (ICG): ICG's acquisition of RSEA from private equity fund CHAMP Ventures for approx. A$145m was a significant cross-border private equity transaction. As lead tax adviser, we advised ICG on all tax structuring and tax due diligence.
Pacific Equity Partners Pty Ltd (PEP): Clayton Utz is the lead tax adviser to PEP, Australia's largest private equity firm. We most recently advised on PEP Fund V1 focusing on investing in Australia and New Zealand which included structuring Fund VI both the offshore fund entities (Cayman Limited Partnerships) and Australian Managed Investment Trusts to accommodate both global and Australian investors. We were also the lead tax adviser on structuring PEP's recent Secure Assets Fund 1, which is a new infrastructure fund with both an Australian and offshore investor base focused on active infrastructure, with investments being asset-backed with secure income streams.
Charter Hall Group: we advised Charter Hall on its recent acquisition of an interest in the Chifley Tower for approximately A$900m from the Singapore sovereign fund GIC. Our long-running relationship with Charter Hall has also led to our advising it on a number of fund establishments and restructures over the last 12 months, including its new diversified wholesale fund, the Deep Value Property Fund.
Qatar Investment Authority: we advised on the QIA's acquisition of units in a large wholesale unit trust. The advice involved Victorian landholder duty and Queensland trust acquisition duty and whether the investment would affect the Fund's status as a wholesale unit trust in Victoria and Queensland.
New Forests: we advised on the stamp duty aspects of the acquisition of the Great Southern Forestry assets as well as on the acquisition of Gunns Timber Products and other Gunns assets from the Receivers and Managers. This included making detailed submissions to the Victorian, Tasmanian, Western Australian and South Australian Commissioners.
Woolworths: we advised on Woolworths' $120 million acquisition of various hotels across New South Wales which involved complex lease and transfer arrangements.
Brookfield: we are advising on the establishment of an Australian-based property fund, ensuring flexibility for investors from all major trading partners can be efficiently accommodated.
Western Sydney University (WSU): we acted for WSU in negotiating the Project Delivery Agreement between WSU and Mirvac for the redevelopment of WSU's Bankstown campus at Milperra, NSW. The Clayton Utz tax team was the tax adviser for WSU and advised on GST, GST withholding and land tax issues underpinning the investment return for WSU and the negotiation of related complex commercial aspects of the Project Delivery Agreement.
Plenary Group: we advised Plenary Group in respect of many public/private partnerships ensuring the needs of different financial investors could be accommodated within a bid structure consistent with State objectives.
Blackrock, Palisade, Northleaf, Infrared, Canadian Solar: we advised Blackrock, Palisade, Northleaf, Infrared, Canadian Solar and others on the successful acquisition and divestment of renewable assets.
Transurban: we advised on Transurban on the A$1.9 billion acquisition of the Airport tollroad, including integration and restructuring of Queensland Motorway Group. The last toll road acquisition enabling the company to have equity stake in all six Brisbane toll roads, six out of eight in NSW and one out of two in Victoria.