A senior partner with more than 30 years' experience advising clients on mergers and acquisitions, joint ventures, foreign investment and securities offerings, Simon Truskett is regularly ranked as one of the best M&A lawyers and corporate governance lawyers in Australia.

He has advised on a wide variety of M&A, corporate finance and infrastructure transactions, both in Australia and in the Asia Pacific region, in energy (electricity & gas), renewable energy, agribusiness, health care, banking & finance, transport, manufacturing, retailing and hospitality industries.

He is a past Chair of Lex Mundi Limited, the world's leading network of independent law firms.

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Expertise

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Corporate / M&A

Greencross Limited: Simon advised the publicly listed Greencross (GXL) on its merger with Mammoth Pet Holdings, owner of Petbarn and Animates businesses, by acquiring 100% of Mammoth's shares from the Mammoth shareholders in exchange for issuing them with new GXL shares, equating to a 58.25% fully diluted interest in GXL. The merger created Australasia’s largest integrated consumer-facing pet care company, with a network of 130 stores and 102 vet clinics across Australia and New Zealand (Deal value approx. A$750 million).

Genuine Parts Company (GPC): Simon advised GPC on its acquisition of an initial 30% interest and subsequent acquisition of the remaining 70% interest in Exego Group/Repco (Deal value approx. A$1.1 billion).

NSW Government: Simon advised the NSW Government on its acquisition of Stadium Australia Group (the owner and operator of ANZ Stadium at Homebush, NSW), including the outsourcing of all management and corporate support services to be provided by the former owners, ICG (Deal value: A$150 million).

Sumitomo Corporation and Kansai Electric Power Company: Simon advised Sumitomo Corporation and Kansai Electric Power Company on their acquisition of Bluewaters Power – the owner of a 416MW power station in Collie, Western Australia (Deal value approx. A$1.2 billion).

CHS: Simon advised US-based CHS Inc., a grower co-operative and Fortune 75 business, on its acquisition of a grains accumulation and trading business in Australia in joint venture with ASX listed, RuralCo Holdings.

Vietnam power projects: Simon advised two international energy utilities on new power stations to be constructed in South East Asia.

Petbarn: Simon advised the founding investors on the restructure of the Petbarn group in Australia and NZ and the subsequent 40% investment by TPG and Petco in the Petbarn group (valuing the group at approximately A$95 million).

Sumitomo Corporation: Simon advised Sumitomo Corporation on its acquisition of a 70% interest in a 320MW gas fired power station in Kwinana, Western Australia.

Infrastructure Capital Group: Simon advised ICG on its acquisition of a 30% interest in a 320MW gas fired power station in Kwinana, Western Australia.

Valemus: Simon advised Bilfinger Berger SE (a listed German constructions and services company) on the sale of its Australian construction and services businesses (Abigroup, Baulderstone and Bilfinger Berger Services) to Lend Lease. (Deal value in excess of A$1.1 billion).

Colt Engineering: Simon advised the owners of Colt Engineering (a Canadian based engineering consulting firm) on their sale of Colt Engineering to ASX-listed Worley Parsons involving a mixture of cash and exchangeable shares (Deal value A$1.13 billion).

Cochlear: Simon advised Cochlear in relation to a range of mergers and acquisitions, including Cochlear's acquisition of Entific Medical Systems SA for approximately A$200 million; Cochlear's acquisition of Crystalaid Manufacturing for approximately A$25 million; Cochlear's joint ventures with Siemens and Phonak for the development of new components and hearing devices; and advised Cochlear on its initial public share offer and float on the Australian Stock Exchange (with a market capitalisation now of approximately A$4.0 billion).

Coles Group: Simon advised the banks on the proposed financing of the proposed acquisition of Coles Group by Wesfarmers (both ASX listed companies) and a private equity consortium under a scheme of arrangement for a total acquisition value of approximately A$22 billion (which at the time of announcement was the largest public company takeover and financing in Australia).

Deutsche: Simon advised Deutsche on numerous mergers and acquisitions, corporate finance/private equity transactions covering a range of industries including transport, downstream energy (particularly "green" energy), pharmaceutical and healthcare, information technology/publishing and food/beverages. In acting for Deutsche in those transactions, Simon prepared and amended shareholders agreements, company constitutions, service agreements and a variety of other transaction documents, and has advised on exit mechanisms.

Endesa: Simon advised Endesa SA on the Australian aspects of the demerger of its renewable energy business, including the proposed establishment of a renewable energy joint venture between Endesa and Acciona SA. Ultimately the transaction involved the acquisition by Enel SpA of all the stake owned by Acciona in Endesa, leaving Enel as the controlling shareholder owning more than 99% of Endesa's share capital (transaction value of approximately €12 billion, with the renewable energy business of Endesa sold to Acciona as part of the transaction valued at approximately € 2.3 billion).

ING/ANZ Funds Management Merger: Simon advised ING on the implementation of its A$4 billion merger of ING's funds management and insurance businesses with those of ANZ Banking Group. Simon's role included advising on the implementation of the merger including the implementation documentation.

Smorgon & OneSteel ‒ Email divestments: Simon acted for Email Limited (including after it was taken over in a joint bid by Smorgons and OneSteel) on the acquisition and divestment of many Email businesses, including its bathroom products, furniture and electricity and gas metering businesses.

State Bank privatisation: Simon advised the NSW Government on the sale of the State Bank of New South Wales for approximately A$575 million.

See Corporate / M&A

Mergers and Acquisitions

Greencross Limited: Simon advised the publicly listed Greencross (GXL) on its merger with Mammoth Pet Holdings, owner of Petbarn and Animates businesses, by acquiring 100% of Mammoth's shares from the Mammoth shareholders in exchange for issuing them with new GXL shares, equating to a 58.25% fully diluted interest in GXL. The merger created Australasia’s largest integrated consumer-facing pet care company, with a network of 130 stores and 102 vet clinics across Australia and New Zealand (Deal value approx. A$750 million).

Genuine Parts Company (GPC): Simon advised GPC on its acquisition of an initial 30% interest and subsequent acquisition of the remaining 70% interest in Exego Group/Repco (Deal value approx. A$1.1 billion).

NSW Government: Simon advised the NSW Government on its acquisition of Stadium Australia Group (the owner and operator of ANZ Stadium at Homebush, NSW), including the outsourcing of all management and corporate support services to be provided by the former owners, ICG (Deal value: A$150 million).

Sumitomo Corporation and Kansai Electric Power Company: Simon advised Sumitomo Corporation and Kansai Electric Power Company on their acquisition of Bluewaters Power – the owner of a 416MW power station in Collie, Western Australia (Deal value approx. A$1.2 billion).

CHS: Simon advised US-based CHS Inc., a grower co-operative and Fortune 75 business, on its acquisition of a grains accumulation and trading business in Australia in joint venture with ASX listed, RuralCo Holdings.

Vietnam power projects: Simon advised two international energy utilities on new power stations to be constructed in South East Asia.

Petbarn: Simon advised the founding investors on the restructure of the Petbarn group in Australia and NZ and the subsequent 40% investment by TPG and Petco in the Petbarn group (valuing the group at approximately A$95 million).

Sumitomo Corporation: Simon advised Sumitomo Corporation on its acquisition of a 70% interest in a 320MW gas fired power station in Kwinana, Western Australia.

Infrastructure Capital Group: Simon advised ICG on its acquisition of a 30% interest in a 320MW gas fired power station in Kwinana, Western Australia.

Valemus: Simon advised Bilfinger Berger SE (a listed German constructions and services company) on the sale of its Australian construction and services businesses (Abigroup, Baulderstone and Bilfinger Berger Services) to Lend Lease. (Deal value in excess of A$1.1 billion).

Colt Engineering: Simon advised the owners of Colt Engineering (a Canadian based engineering consulting firm) on their sale of Colt Engineering to ASX-listed Worley Parsons involving a mixture of cash and exchangeable shares (Deal value A$1.13 billion).

Cochlear: Simon advised Cochlear in relation to a range of mergers and acquisitions, including Cochlear's acquisition of Entific Medical Systems SA for approximately A$200 million; Cochlear's acquisition of Crystalaid Manufacturing for approximately A$25 million; Cochlear's joint ventures with Siemens and Phonak for the development of new components and hearing devices; and advised Cochlear on its initial public share offer and float on the Australian Stock Exchange (with a market capitalisation now of approximately A$4.0 billion).

Coles Group: Simon advised the banks on the proposed financing of the proposed acquisition of Coles Group by Wesfarmers (both ASX listed companies) and a private equity consortium under a scheme of arrangement for a total acquisition value of approximately A$22 billion (which at the time of announcement was the largest public company takeover and financing in Australia).

Deutsche: Simon advised Deutsche on numerous mergers and acquisitions, corporate finance/private equity transactions covering a range of industries including transport, downstream energy (particularly "green" energy), pharmaceutical and healthcare, information technology/publishing and food/beverages. In acting for Deutsche in those transactions, Simon prepared and amended shareholders agreements, company constitutions, service agreements and a variety of other transaction documents, and has advised on exit mechanisms.

Endesa: Simon advised Endesa SA on the Australian aspects of the demerger of its renewable energy business, including the proposed establishment of a renewable energy joint venture between Endesa and Acciona SA. Ultimately the transaction involved the acquisition by Enel SpA of all the stake owned by Acciona in Endesa, leaving Enel as the controlling shareholder owning more than 99% of Endesa's share capital (transaction value of approximately €12 billion, with the renewable energy business of Endesa sold to Acciona as part of the transaction valued at approximately € 2.3 billion).

ING/ANZ Funds Management Merger: Simon advised ING on the implementation of its A$4 billion merger of ING's funds management and insurance businesses with those of ANZ Banking Group. Simon's role included advising on the implementation of the merger including the implementation documentation.

Smorgon & OneSteel ‒ Email divestments: Simon acted for Email Limited (including after it was taken over in a joint bid by Smorgons and OneSteel) on the acquisition and divestment of many Email businesses, including its bathroom products, furniture and electricity and gas metering businesses.

State Bank privatisation: Simon advised the NSW Government on the sale of the State Bank of New South Wales for approximately A$575 million.

See Mergers and Acquisitions

Corporate Governance

Simon advises ASX 200 companies on corporate governance issues.

Cochlear Limited: Simon advised on numerous corporate governance and continuous disclosure issues.

Greencross Limited: Simon advises on a range of corporate governance, continuous disclosure and group structuring issues, including compliance with veterinary and other regulatory regimes that impact on ownership and control issues.

News Corp restructure: Simon advised News Corporation and Twentieth Century Fox on their demerger and subsequent restructures, including recapitalisations

AngloGold Ashanti restructure: Simon advised AngloGold Ashanti (listed on Johannesburg, LSE and ASX exchanges) on corporate group restructures, disclosure issues and new corporate governance arrangements.

Tullow Oil restructures: Simon advised London Stock Exchange listed, Tullow Oil plc, in relation to various corporate group recapitalisations and restructures.

NSW electricity industry amalgamations: Simon advised the NSW Government on the establishment of the NSW Government owned power generation and electricity distribution and retailers that were created as a result of the disaggregation of Pacific Power (to form Delta Electricity, Macquarie Generation and Eraring) and the amalgamation of 25 electricity county councils (to form an initial six electricity distributor /retailers and later three energy retailers: EnergyAustralia, Country Energy and Integral Energy). Amongst other tasks, this included drafting constitutions and corporate governance documents.

NSW Council amalgamations: Simon is advising various regional councils and local councils on preparations for, and the consequences of, NSW Council amalgamations, including the effects on council staff, powers of council, governance and related issues.

Hunter Water Board corporatisation: Simon advised the Hunter Water Board on its transformation into a corporation, including preparing a new constitution and corporate governance documents.

See Corporate Governance

Equity Capital Markets / IPOs

Greencross Limited: Simon advised the publicly listed Greencross (GXL) on its merger with Mammoth Pet Holdings, owner of Petbarn and Animates businesses, by acquiring 100% of Mammoth's shares from the Mammoth shareholders in exchange for issuing them with new GXL shares, equating to a 58.25% fully diluted interest in GXL. The merger created Australasia’s largest integrated consumer-facing pet care company, with a network of 130 stores and 102 vet clinics across Australia and New Zealand (Deal value approx. A$750 million).

Colt Engineering: Simon advised the owners of Colt Engineering (a Canadian based engineering consulting firm) on their sale of Colt Engineering to ASX-listed Worley Parsons involving a mixture of cash and exchangeable shares (Deal value A$1.13 billion).

Cochlear IPO: Simon advised Cochlear on its initial public share offer and float on the Australian Stock Exchange in 1995 (with a market capitalisation now of approximately A$8 billion).

Commonwealth Bank privatisation (CBA 3): Simon advised the Commonwealth of Australia on the sale of its remaining interest (of approximately 50%) in the Commonwealth Bank of Australia for approximately A$5.1 billion, involving (for the first time in Australia) our development of instalment warrants to allow investors to pay for their shares by instalments whilst receiving all of the benefits of the shares. 

See Equity Capital Markets / IPOs

Energy and Resources

Sumitomo Corporation and Kansai Electric Power Company: Simon advised Sumitomo Corporation and Kansai Electric Power Company on their acquisition of Bluewaters Power – the owner of a 416MW power station in Collie, Western Australia (Deal value approx. A$1.2 billion).

Vietnam power projects: Simon advised two international energy utilities on new power stations to be constructed in South East Asia.

Sumitomo Corporation: Simon advised Sumitomo Corporation on its acquisition of a 70% interest in a 320MW gas fired power station in Kwinana, Western Australia.

Infrastructure Capital Group: Simon advised ICG on its acquisition of a 30% interest in a 320MW gas fired power station in Kwinana, Western Australia.

Brown Hill Wind Farm: Simon advised Perpetual and Macquarie Bank on Perpetual's acquisition from AGL of a 94.5MW wind farm in South Australia (Deal value: A$280m).

Composite Energy: Simon advised Composite Energy (a UK gas exploration company), on the Australian law aspects of its acquisition by Dart Energy.

Dampier to Bunbury Natural Gas Pipeline: Simon acted for the syndicate of 28 banks and the receiver appointed by them on the sale of the entities which owned and operated the Dampier to Bunbury Natural Gas Pipeline for a sale price of approximately A$1.9 billion. The transaction was (at the time) the largest receivership sale by asset value in Australia.

Elliston Wind Farm: Simon advised the proponents of a 150MW wind farm to be located at Elliston in South Australia.

Hallett Wind Farm: Simon advised a bidder in relation to its proposed acquisition from AGL of a wind farm to be constructed in Hallett, South Australia.

Hornsdale Wind farm: Simon advised John Laing plc in relation to its acquisition of its substantial minority interests in the Hornsdale Wind Farm (stages 1, 2 & 3) with total capacity of approx. 300MW.

Mauritius power project: Simon advised on the construction of a new (bagasse and coal fired) power station in Mauritius.

New South Wales Regional Gas Privatisation: Simon acted for Great Southern Energy, the successful purchaser of the Wagga Wagga gas distribution business which was privatised by way of a competitive trade sale.

Novera Energy ‒ Macquarie Bank Joint Venture: Simon advised Novera (an ASX listed renewable energy company) on its joint venture with Macquarie Bank, involving the sale of numerous renewable energy projects to the joint venture and the acquisition of new renewable energy assets.

Oceanlinx: Simon advised three venture capital funds on their takeover investment in this renewable energy Australian public company, involving complex arrangements to ensure protection of the investors without infringing the takeover provisions of Chapter 6 of the Corporations Act.

PowerNet Victoria Privatisation: Simon advised a consortium on its unsuccessful bid for buying the Victorian high voltage electricity transmission grid operator, PowerNet, when it was privatised by the State of Victoria.

Redbank power station: Simon acted for a potential investor in this 150MW coal tailings fired power plant in the NSW Hunter Valley.

South Australian Electricity Generators Privatisations: Simon advised one of the short listed bidders on its (unsuccessful) bid in the privatisation of South Australia's electricity generation assets.

Valley Power: Simon advised an unsuccessful bidder in relation to its proposed acquisition of the Valley Power generation facility, which is a 300MW fast-start peaking gas-fired power plant located in Victoria's LaTrobe Valley.

Victorian Electricity distributors privatisations: Simon advised financiers to a number of successful and unsuccessful bids for the privatised Victorian electricity distributors.

Victorian gas privatisations: Simon advised Boral on its successful acquisition, with Envestra, of the Victorian gas retail and distribution business of Stratus/Energy 21, which was sold by the State of Victoria for A$1.6 billion. 

See Energy and Resources

Corporatisation and Privatisation

New South Wales Regional Gas Privatisation: acted for Great Southern Energy, the successful purchaser of the Wagga Wagga gas distribution business which was privatised by way of a competitive trade sale.

PowerNet Victoria Privatisation: advised a consortium on its unsuccessful bid for buying the Victorian high voltage electricity transmission grid operator, PowerNet, when it was privatised by the State of Victoria.

South Australian Electricity Generators Privatisations: advised one of the short‑listed bidders on its (unsuccessful) bid in the privatisation of South Australia's electricity generation assets.

Victorian Electricity distributors privatisations: advised financiers to a number of successful and unsuccessful bids for the privatised Victorian electricity distributors.

Victorian gas privatisations: advised Boral on its successful acquisition, with Envestra, of the Victorian gas retail and distribution business of Stratus/Energy 21, which was sold by the State of Victoria for A$1.6 billion.

State Bank privatisation: advised the NSW Government on the sale of the State Bank of New South Wales for approximately A$575 million.

Commonwealth Bank privatisation (CBA 3): advised the Commonwealth of Australia on the sale of its remaining interest (of approximately 50%) in the Commonwealth Bank of Australia for approximately A$5.1 billion, involving (for the first time in Australia) our development of instalment warrants to allow investors to pay for their shares by instalments whilst receiving all of the benefits of the shares.

FreightCorp/National Rail: advised a consortium in connection with its proposed bid for the National Rail (and FreightCorp) operations before the privatisation of those two businesses was restructured as a joint sale. The consortium subsequently withdrew from the joint sale process, which culminated in the sale of National Rail/FreightCorp for A$1.2 billion. 

See Corporatisation and Privatisation

International Services

Vietnam power projects: Simon is advising two international energy and infrastructure companies on new power stations to be constructed in South East Asia.

CHS Inc.: Simon is advising US-based CHS, a grower co-operative and Fortune 75 business, in relation to its acquisition of a 50% interest in Agfarm, a grain origination and marketing company, and associated joint venture arrangements with Ruralco Holdings Limited (2013).

Composite Energy: Simon advised Composite Energy ( a UK gas exploration company), on the Australian law aspects of its acquisition by Dart Energy.

Colt Engineering sale: Simon advised the owners of Colt Engineering (a Canadian based engineering consulting firm) on their sale of Cole Engineering to Worley Parsons (an ASX listed company) for approximately A$1.13 billion. The sale involved a mixture of cash and exchangeable shares (which was a novel structure for Australia).

Genuine Parts Company: Simon advised NYSE-listed Genuine Parts Company on its 100% acquisition of Exego Group valuing the enterprise at over A$1 billion (2013 and 2011).

Leighton: Simon acted for Leighton in connection with some road project investments in India.

Sumitomo Corporation and Kansai Electric Power Company: Simon advised Sumitomo Corporation and Kansai Electric Power Company on their acquisition of Bluewaters Power – the owner of a 416MW power station in Collie, Western Australia (Deal value approx. A$1.2 billion).

Sumitomo Corporation: Simon advised Sumitomo Corporation on its acquisition of a 70% interest in a 320MW gas fired power station in Kwinana, Western Australia.

Vietnam power projects: Simon advised two international energy utilities on new power stations to be constructed in South East Asia. 

See International Services

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