Andrew Hay

Clayton Utz
Partner Brisbane

Andrew is regarded for his "hands on approach and for finding practical commercial solutions to meet commercial objectives".

Overview

Andrew heads the firm's Japan and Agribusiness practices nationally and is a senior partner in the firm's Corporate M&A Capital Markets practice with over 30 years' experience as a corporate adviser to leading Australian and overseas companies.

In recognition of his contributions to Japan, Andrew Hay was awarded the 2024 Japanese Foreign Minister's Commendation for his efforts in promoting cultural and economic exchange between Japan and Australia.  

Notable Work
  • Brisbane Airport Corporation (BAC): Client Relationship Partner for BAC. Advised on equity capital raising measures for its redeemable preference shares and other securities, general corporate advisory matters on acquisitions, JVs, shareholder agreement and constitutional amendments, and its annual Airport Act ownership disclosure document.

  • Ceres Tag: Advised Ceres Tag, an Australian animal health intelligence company, on its USD$7 million capital raise from US investor, Americo, together with its additional USD$3 million investment.

  • Collection House: Advised on its recap involving its suspension from ASX, a public offer process, sale of its Australian purchased debt ledger to Credit Corp, refinancing existing senior debt, multiple new debt finance facilities and ACCC matters.

  • Collins Foods: Advised on various acquisitions of KFC franchises/stores in various locations around Australia, and Germany and The Netherlands, and secondary equity and debt raisings to fund acquisitions.

  • Flexopack: Advised listed Greek company on the establishment of a manufacturing plant in Queensland for food packaging, expansion of plant, and various capital injections and commercial agreements.

  • Gilmour Space Technologies: Advised on the A$217 million Series E capital raising that positiond the company as Australia’s first space unicorn – a privately held space sector start-up valued at over AUD$1 billion.

  • GWA Group: Advised on all material acquisitions and disposals by GWA Group since 2010, including its A$110m acquisition of Methven Limited, an NZSX listed company, by way of a scheme of arrangement under NZ law.

  • IPOs: Advised a range of companies on initial public offerings (IPOs) on the ASX – Billabong, CEC Group, Early Learning Services (now G8 Education), Mastermyne Group, Tlou Energy, Transpacific Industries Group (now Cleanaway), UniTAB/TAB Queensland (now part of TabCorp), Virgin Blue Airlines, Westside Corporation, Wotif.com.

  • Kagome: Advised on the acquisition of a tomato farming business in northern Victoria.

  • Morgans Holdings Australia: Advised on the acquisition of financial advisory arm of Commonwealth Bank of Australia.

  • National Storage REIT: Advised NSR on the $4 billion acquisition by a consortium comprising Brookfield and GIC, Singapore’s sovereign wealth fund. This transaction marks the largest all-cash deal in the global self-storage sector, and the largest real estate all-cash REIT privatisation in Australia.

  • Nippon Paint Co. Ltd: Advised on the acquisition of DuluxGroup by way of a scheme of arrangement.

  • Norris Motor Group: Advised on its acquisition by Eagers Automotive Ltd, a leading ASX-listed Australian automotive retailer. The A$170 million transaction involved the sale of 100% of Norris Motor Group, a Queensland-based dealership group offering a wide range of new and used vehicles, financing, insurance, and maintenance services.  

  • Palgrove: Advised on the restructure of a privately owned Australian stud-cattle business, to facilitate the purchase of a majority interest by New Zealand Super Fund (New Zealand government owned fund).

  • PAR Technology Corporation: Advised on the A$350 million acquisition of TASK Group Holdings Limited, an ASX-listed software and solutions provider delivering an end-to-end enterprise transaction management platform and a global mobile loyalty and customer engagement platform, by scheme of arrangement.

  • Queensland Motorways: Advised Queensland Government on the A$3.1 billion sale of Queensland Motorways to private equity.

  • Saputo: Advised this major global dairy company on its distribution and supply arrangements into Japan.

  • Sugar Terminals: Advised on establishment, listing on NSX, various corporate governance matters and corporate and commercial matters with growers and millers.

  • Transpacific Industries Group (now Cleanaway): Advised on all material acquisitions by TPI (now Cleanaway) since its IPO until 2016 including advising on the A$870 million acquisition of Waste Management New Zealand by way of a merger (NZ scheme of arrangement). This transaction was the Winner of International Law Deal of the Year in Australia.

  • Wotif.com: Advised on its IPO and merger with Expedia by way of scheme of arrangement.

Insights
Fair dealings in the agriculture and supermarket sectors remain an ACCC enforcement priority in FY27
6 Mar 2026 | Article
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Media release: Clayton Utz advises Gilmour Space on landmark A$217 million Series E capital raising
21 Jan 2026 | Media Release
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ACCC merger reforms coming 1 January 2026 – considerations for serial acquirers
12 Dec 2025 | Article
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Media release: Clayton Utz advises National Storage on landmark A$4 billion acquisition by Brookfield and GIC consortium
10 Dec 2025 | Media Release
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Faster IPOs on the horizon: ASIC launches two-year fast-track listing trial
30 Sep 2025 | Article
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Foreign investment in Australia in October – December 2024: key insights from the latest quarterly report
10 Sep 2025 | Article
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Queensland trustees get enhanced powers and duties under new Trusts Act 2025 (Qld)
13 Jun 2025 | Article
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Mandatory Food and Grocery Code of Conduct is now in force
22 Apr 2025 | Article
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Foreign investment in Australia: key insights from the latest Quarterly Report
19 Mar 2025 | Article
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Australia's Evolving Capital Markets: A call to action
19 Mar 2025 | Article
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Foreign investment into Australia FYE 30 June 2024: trends and implications
21 Nov 2024 | Article
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Foreign investment into Australia in October-December 2023; trends and implications
11 Jul 2024 | Article
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Australia's foreign investment policy gets a makeover
1 May 2024 | Article
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Foreign investment into Australia in July-September 2023: trends and implications
3 Apr 2024 | Article
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Media release: Clayton Utz advises PAR Technology on its acquisition of TASK Group
14 Mar 2024 | Media Release
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Reforms to the Food & Grocery Code may aim to reduce cost of living: call for submissions
16 Feb 2024 | Article
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Southeast Asian Economic Strategy to 2040 – opportunities for Australian businesses
5 Oct 2023 | Article
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Foreign investment into Australia in January-March 2023; trends and implications
4 Aug 2023 | Article
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ACCC pivots to enforcement after grace period for the Horticulture Code
24 Jul 2023 | Article
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Media Release: Clayton Utz acts for Collins Foods on sale of Sizzler Asia
12 Jul 2023 | Media Release
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Australia-United Kingdom Free Trade Agreement in force – now to make it work for you
13 Jun 2023 | Article
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United Kingdom investors subject to higher foreign investment monetary threshold from 31 May 2023 for certain investments
13 Jun 2023 | Article
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Foreign investment trends in the October 2022 quarter, and their implications
22 Mar 2023 | Article
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ASIC changes to the new employee share scheme regime for listed entities
7 Feb 2023 | Article
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ASIC changes to the new employee share scheme regime for unlisted entities
7 Feb 2023 | Article
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Foreign investment trends in the July 2022 quarter, and their implications
16 Dec 2022 | Article
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Australia’s Free Trade Agreements: The 2022 round-up, and the opportunities in 2023
12 Dec 2022 | Article
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Directors granted leeway to apply for Director ID by 14 December 2022
2 Dec 2022 | Article
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M&A Report November 2022
24 Nov 2022 | Article
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Corporations Act director on or before 31 October? Apply for your director identification number by 30 November 2022
26 Sep 2022 | Article
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Don’t give an executive equity incentive without an employment hurdle (unless you really really want to)
18 Aug 2022 | Article
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FIRB application fees will double from 29 July: what you need to know
25 Jul 2022 | Article
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Free trade agreement between Australia and the European Union back on the table – with some caveats
7 Jul 2022 | Article
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M&A Report 2022
11 May 2022 | Article
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Media Release: Clayton Utz claims over 200 spots in The Best Lawyers in Australia and inaugural 'Ones to Watch' 2023 Editions
21 Apr 2022 | Media Release
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Equity incentives for employees: new Corporation Act rules for listed entities
14 Apr 2022 | Article
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The Australia-India Economic Cooperation and Trade Agreement: A possible step towards a full Free Trade Agreement
14 Apr 2022 | Article
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Unlisted entities and equity incentives for employees – rule changes from 1 October 2022
14 Apr 2022 | Article
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Five Federal budget sweeteners and what it means for agriculture
1 Apr 2022 | Article
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Coming in 2022: The Australia-UK Free Trade Agreement
23 Dec 2021 | Article
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Industry Trends: Agribusiness
22 Oct 2021 | Article
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Media Release: Clayton Utz advises Minerva and SALIC on WA abattoir acquisitions
3 Sep 2021 | Media Release
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ACCC "moo-ves" quickly to enforce Dairy Code
19 Aug 2021 | Article
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Long-awaited certainty as Parliament permits virtual general meetings
16 Aug 2021 | Article
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Significant reforms to the Australian continuous disclosure regime are now law: A guide for listed entities and their officers
16 Aug 2021 | Article
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Foreign investors maintain appetite for Australia, according to 2019–20 FIRB Annual Report data and findings
8 Jul 2021 | Article
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Australia and the UK reach an Agreement in Principle for the long-awaited Australia-UK FTA
24 Jun 2021 | Article
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ACCC to address power imbalances in Australia's agriculture supply chains
15 Jun 2021 | Article
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Temporary COVID-19 relief for virtual shareholder meetings and continuous disclosure has now lapsed
23 Mar 2021 | Article
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Significant proposed changes to the Corporations Act for continuous disclosure, AGMs and e-signing
22 Feb 2021 | Article
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