Tag: brisbane
Written by Jad on 14 March 2017.
♦ Recent Deals ♦ Australia, Brisbane, Melbourne, Sydney
A cross-border team from global law firm Norton Rose Fulbright has advised international solar energy company Wirsol Energy on the acquisition and the project financing of a portfolio of three large scale solar PV projects in Queensland and Victoria. The projects are the 57.5MW Whitsunday project (Queensland), the 57.5MW Hamilton project (Queensland) and the 50MW Gannawarra project (Victoria). They have been developed by Edify Energy and $231 million of project financing was provided by Commonwealth Bank of Australia, NordLB and Clean Energy Finance Corporation. ARENA provided funding for the Whitsunday project through its large scale solar program. Elgar Middleton were financial adviser to Wirsol Energy on the project financing of the portfolio. The acquisition and financing closed on March 10, 2017, and the projects are scheduled for completion early in 2018. Norton Rose Fulbright global head of energy Simon Currie commented: "Innovation comes in all shapes and sizes, and it was pleasing to work on a transaction that contained multiple ‘firsts’. This was the first portfolio acquisition and financing of utility scale solar PV in Australia; the first financing for solar PV with merchant exposure and long term debt from the local market; and the first large scale solar PV project to reach financial close in Victoria. 2017 is when solar in Australia comes of age and the prediction that we will become the "Saudi Arabia" of solar will start to ring true." The Norton Rose Fulbright team included lawyers from our Sydney, Brisbane, Melbourne and Hamburg offices. Simon Currie led the team advising Wirsol, supported by lead associate Tom Bramah, with senior associate Melissa Park (project financing) and special counsel; Raymond Lou (M&A). Other Australian partners who advised on the deal were, in Australia: Noni Shannon, Emanuel Confos, Ellen Thomas, Michael French and Justin Lucas; and in Germany: Timo Noftz. Also working on the deal were senior associates Kathy Prince, Steven Choi, Juliette King, Kelly Davies, Jacqueline Plant; and associates Sally-Ann Rowland, Michael Volks, Tom Langsford, Ben Carrozzi and Sam Purcell; and lawyer Jacqueline Fetchet. Our team is currently working on over 20 large scale projects across Australia. In 2016 we advised Conergy on the Lakeland solar and storage project in Queensland. Last week this project was chosen by industry publication IJ Global as the Asia-Pacific solar project of the year.
Written by Jad on 17 August 2016.
♦ Recent Deals ♦ Australia, Brisbane, Sydney
Herbert Smith Freehills has advised Propertylink on its successful initial public offering (IPO) of stapled securities to institutional and retail investors. The IPO raised a total of A$503.5 million at a price of A$0.89 per stapled security. Propertylink securities commenced trading on the Australian Securities Exchange, on a conditional and deferred settlement basis, on 5 August 2016 under the ticker code ‘PLG’ and are expected to commence trading on a normal settlement basis this week. As part of the IPO, Herbert Smith Freehills also advised on the internal restructure of Propertylink, which saw shares in Propertylink (Holdings) Limited, and units in the Propertylink Trust, comprising Propertylink’s investment and asset management business, stapled to units in the Propertylink Australian Industrial Partnership, which holds a A$700m portfolio of Australian industrial and logistics assets. The Herbert Smith Freehills finance team also separately advised Propertylink on the establishment of a A$300 million long-term debt facility with the Westpac Banking Corporation. Corporate partner Philip Podzebenko who led the Herbert Smith Freehills team said he was extremely pleased to have helped ensure a successful IPO for Propertylink. “This was a complex IPO requiring technical legal knowhow as well as practical commercial expertise. We were able to form a multi-disciplinary team across the corporate, finance and property teams of the firm to provide Propertylink with the comprehensive advice they needed. I am delighted we were able to achieve such a successful result for such a valued client.” Philip worked with corporate partners Philip Hart and Justin O’Farrell, and was supported by senior associates Cecilia Mehl, Jayne Walker, Brock Colville, Malika Chandrasegaran, Henrietta Rowe and Anna Coroneo, solicitors Thomas Mawson, Victoria Mataczynski and Kate Podzorova and graduate Tim Coorey. The financing team included partners Melita Cottrell and Philip McMahon, senior associate Adam Roberts and graduate Alice Li. Philip said the firm’s role in the IPO was representative of the longstanding relationship between Propertylink and Herbert Smith Freehills. “We have worked with Propertylink since late 2013 and have seen the successful real estate group grow and expand their business, and we look forward to continuing to do so as they achieve even more success.” Herbert Smith Freehills has also recently advised Propertylink on the establishment of a new fund, the Propertylink Enhanced Partnership, which has entered into an option agreement with Denison Funds Management Limited to acquire a portfolio of industrial, logistics and warehouse assets for A$142 million. Propertylink is an internally managed real estate group consisting of a leading investment and asset management business with over A$1.55 billion of Australian assets under management and a diversified property portfolio of 33 industrial and logistics assets. Credit Suisse (Australia) Limited, Goldman Sachs Australia Pty Ltd and J.P. Morgan Australia Limited acted as joint lead managers on the IPO. Gilbert + Tobin acted as legal counsel to the JLMs. King & Wood Mallesons and Allens acted as legal advisers to the co-investors in PAIP.
Written by John on 08 February 2016.
♦ Moves News ♦ Brisbane
DibbsBarker is pleased to announce the appointment of Mahoney Smith as a new partner of the firm. Mahoney specialises in real estate advice and transactions, working across a variety of sectors including commercial, industrial, retail and residential. She has acted for REITs, ASX-listed companies and unlisted corporates on major acquisitions and disposals, complex developments, management agreements and large-scale leasing transactions. Mahoney has worked on some of Queensland’s most significant property deals in the past year, including advising the Destination Brisbane Consortium on property aspects of the redevelopment of the Queens Wharf precinct in Brisbane’s CBD. She has also advised Boral on numerous property-related matters ranging from sales and acquisitions to leasing, licensing and options on industrial and commercial sites throughout Australia. Mahoney has particularly strong experience in the hospitality and tourism sectors. She has advised on several acquisitions and sales of islands in the Whitsunday region, including Lindeman Island. Mahoney has also acted for a number of hoteliers on a range of hospitality matters, with credentials including her advisory work for Hilton Worldwide in relation to various hotels and projects throughout Australia, New Zealand and the Pacific region. Penny Murray, head of DibbsBarker’s Property & Projects group, said: “Our property practice had a big year in 2015 and it is great to see our team involved with an increasing number of major transactions, such as the DEXUS acquisition of Waterfront Place and Eagle Street Pier in Brisbane last year. As we launch into 2016, we will have even more strength with Mahoney on board. She will add invaluable depth to our offering, particularly with her specialty in hospitality and tourism which are hot sectors right now. We are delighted that she has joined us.” Commenting on her appointment, Mahoney said: “I think DibbsBarker has been a quiet achiever for quite some time, working with an outstanding base of high calibre clients. The property practice has been going from strength to strength and I’m excited to be part of its continued growth. I had also heard about DibbsBarker’s warm and collegiate culture, and it has been a pleasure to see for myself just how true that is.” Mahoney joins DibbsBarker from DLA Piper. She will be based in the firm’s Brisbane office, where the Property & Projects group also welcomed Mark Baker-Jones as a partner and Madonna Griffin as a senior associate in the second half of 2015.
Written by John on 07 December 2015.
♦ Moves News ♦ Brisbane
Global law firm K&L Gates has added three new partners in its Brisbane office, welcoming corporate and transactional partner Philip Vickery, real estate partner Brian Healey, and labor, employment and workplace safety partner Paul Hardman. All three lawyers join K&L Gates from Holding Redlich. Philip Vickery focuses his practice on M&A and capital raisings, and has substantial experience in the agribusiness and resources sectors. He has coordinated legal teams on a number of complex and high-profile transactions and advises listed and private multinationals, along with some of Australia’s largest companies, including a number of leading financial institutions. With two decades of experience dedicated almost exclusively to agribusiness, Brian Healey has acted in some of Australia’s largest and most complex rural transactions in markets including beef, cotton, almonds, and grain. He acts for local and international agribusinesses, primary producers, and investors across their range of legal needs but primarily in rural land and water and commercial matters. In addition, Healey advises and guides inbound investors from many parts of the world — including China, Singapore, and the United States — on their investments in Australian agriculture. Paul Hardman advises on a wide range of safety and employment issues as well as on commercial disputes and administrative law matters. He has a primary focus in the defense of regulatory prosecutions including under the Work Health and Safety, Environmental Protection, and Corporations acts. His vast experience includes the conduct of workplace investigations, dealing with investigations by regulators, and acting for clients in Royal Commissions and Commissions of Inquiry. “As the Brisbane market strengthens and expands, so too do the offerings through our Brisbane office, as we continue to make targeted hires that will position the firm well to service growth industries such as agribusiness and employment and workplace safety,” said K&L Gates’ Managing Partner, Australia, Nick Nichola. “We are excited to welcome Philip, Brian, and Paul to the partnership.” These appointments follow the recent additions of several other new partners in the firm’s Australian offices, including Brisbane corporate and transactional partner Jeremy Prentice, Sydney intellectual property partner Naomi Pearce, and Sydney real estate partner Diane Skapinker.
Written by John on 04 August 2015.
♦ Recent Deals ♦ Australia, Brisbane, Japan, Tokyo
Herbert Smith Freehills has advised Japanese automotive group Gulliver International Co Ltd on its A$120 (US$90) million acquisition of a majority shareholding in the DVG Automotive Group, Western Australia's second largest automotive dealership group. Partners Damien Roberts (Tokyo) and Ian Williams (Australia) led their respective ends of the firm's preeminent Japan-Australia team to complete the transaction for Gulliver – both are fluent in Japanese and provide an experienced bridge on Japan-Australia transactions for this client and many others in Japan. Ian is a Vice-President of the Australia Japan Business Cooperation Committee, and has divided his time between Australia and Japan for more than 20 years. Australian national Damien has been based in Tokyo since 2011 and regularly advises Japanese companies on Australian and cross-border deals. "Gulliver has an outstanding business model in car sales distribution, and has already expanded its business to the US, New Zealand and Southeast Asia." said Damien. "As this was the company's first venture into Australia, Gulliver was reassured by our team's ability to advise them from Tokyo to Perth, in their own language, with genuine market expertise, and to work seamlessly with their other advisers to help close the deal." Damien and Ian were assisted by senior associate Claire Jelbart and associate Elisa Hayashi in Tokyo, and by partner Simon Reed, senior associate Sam Kings and graduate James Nagle in Perth.