13 Jan 2012

Clayton Utz advises TransACT on $60m acquisition by iiNet

Sydney, 13 January 2012: Clayton Utz has advised Canberra’s leading telecommunications provider TransACT on its acquisition by iiNet for a purchase price of $60 million.

Clayton Utz Corporate partner Kate Jordan led the transaction, with support from Banking partner Paul Gatward, special counsel Simone Whetton and lawyer Anna Haynes. The financial advisers for TransACT were Deloitte. The transaction completed on 30 November 2011.

The acquisition will increase iiNet’s presence in the ACT and regional Victoria and deliver further network assets.

Lead partner Kate Jordan said the transaction reflected a broader trend in aggregation in the telecommunications sector. "We can expect to see further M&A activity in 2012 in this sector," she said.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.