Advising News Limited on the sale of its 44% stake in Sky Network Television is just one of a number of recent M&A highlights for Chapman Tripp.
This was a large transaction involving more than NZ$800m. Chapman Tripp’s team comprised Partners Tim Williams and Roger Wallis and Senior Associate Joshua Pringle.The deal is just one of a number that have kicked off 2013 for the firm. Other recent M&A highlights include:
- advising Fisher Funds on its NZ$79m acquisition of Tower Investments. The acquisition, aided by TSB Bank, makes Fisher Funds the biggest New Zealand-owned KiwiSaver provider. Fisher’s total funds under management will increase from $1.4b to $5.5b, ranking the firm New Zealand’s fourth largest. The transaction is expected to complete in early April (Chapman Tripp lawyers: Partners John Strowger and Penny Sheerin)
- advising The Warehouse Group on its up-to-NZ$33m acquisition of a 51% majority shareholding in Hamilton-based online retailer Torpedo7, operator of the Torpedo7, 1-day and Urban Daddy websites in Australia and New Zealand (Chapman Tripp lawyers: Partner John Strowger, Senior Associate Joshua Pringle)
- advising Hellaby Holdings on its acquisition of an 85% stake in Contract Resources Holdings for NZ$73m and associated NZ$40m bank debt refinancing (Chapman Tripp lawyers: Partners Roger Wallis and Cathryn Barber, Senior Solicitor Adrien Hunter and Solicitor Charlotte Baird)
- acting for Waterman Capital on its acquisition of a 24% stake in Academic Colleges Group Limited, a private school owner/operator in New Zealand, Indonesia and Vietnam (Chapman Tripp lawyers: Senior Associates Joshua Pringle and Jon Healey)
- advising NDA Group on the sale of its milk storage and refrigeration services business, Dairy Technology Services, to Tru-Test Group, for NZ$73 million (Chapman Tripp lawyers: Partner John Strowger and Senior Associate Jon Healey)
- acting for Godfrey Hirst subsidiary Canterbury Spinners on the acquisition of a wool-spinning business and assets from Summit Wool Spinners, New Zealand's largest independent spinner (Chapman Tripp lawyers: Partner Geof Shirtcliffe and Solicitor Bela Mistry)
- advising The Warehouse Group on its acquisition of specialist consumer electronics and home appliances retailer Noel Leeming Group, for NZ$65m, from Australian private equity firm Gresham. The vendor’s circumstances meant the deal required innovative conditions, as well as warranty and indemnity insurance (Chapman Tripp lawyers: Partner John Strowger and Senior Associate Joshua Pringle)
- acting for Blue Star Group on the recent contested sale of its Australian printing business to Wolseley Private Equity and CaxtonWeb, and its New Zealand printing business to a joint venture of Mercury Capital private equity and Tom Sturgess interests (Chapman Partners Ross Pennington, Roger Wallis and Michael Harper, Senior Associates Jarrod Murphy, Jennifer Tunna and Solicitors Jeremy Jones, Oliver Hornbrook and Finn Howie).
2013 should continue to see good levels of transactional activity, says Chapman Tripp Corporate Partner Roger Wallis.
“In addition to the well-publicised planned IPOs of Mighty River Power, Genesis Energy and Meridian Energy, there are indications of a number of others, including Z Energy, announced late last week. In the M&A space, we are also seeing a number of corporates with strong balance sheets looking to pursue strategic acquisitions to bolster their core business and improve earnings.”