Tag: perth
Written by Jad on 25 September 2019.
♦ Moves News ♦ Perth
Global law firm K&L Gates welcomes James Clyne as a corporate partner in the Perth office. Clyne joins the firm from Allens. Clyne advises on both public and private mergers and acquisitions, as well as equity capital markets matters including equity raises and initial public offerings. Clyne's extensive corporate experience includes advising on general corporate governance matters, shareholder activism, contested shareholder meetings and disputed transactions involving consideration by Australia's Takeovers Panel. His practice also encompasses advice on foreign investment and the establishment of debt and structured products. Clyne works with Australian and multinational clients operating across a range of sectors including minerals, mining services, oil and gas, agribusiness, commodities and finance. "I am delighted to be joining the partnership at K&L Gates," said Clyne. "I was particularly attracted by the firm's impressive global platform and the opportunity to draw upon its expansive reach across five continents. I look forward to being part of the corporate team and collaborating with colleagues across Australia and internationally to support my clients." Nick Nichola, K&L Gates' Managing Partner, Australia, stated: "James is an excellent addition to our Perth office and K&L Gates' corporate practice. His deep knowledge of and experience with the market in Western Australia will be of tremendous benefit to both our domestic clients and international entities looking at opportunities in Australia. We are pleased to welcome James to the firm." Clyne will work closely with members of the firm's energy, infrastructure and resources team across Australia, including partner Matt Baumgurtel who joined the Sydney office at the start of the year. Clyne is the seventh corporate partner to join K&L Gates in 2019, following earlier additions in the Hong Kong, Tokyo, Orange County/Los Angeles and Raleigh offices.
Written by John on 14 March 2016.
♦ Recent Deals ♦ Australia, Perth
Herbert Smith Freehills has advised Horizon Power on its innovative deployment of standalone power systems to households in the bush-fire affected town of Esperance, located on Western Australia’s southeast coast. The systems will allow households to live “off-grid”, relying on electricity generated by solar panels and stored in lithium-ion batteries. The systems are backed up by diesel generators to cater for extended periods of low sunlight. Herbert Smith Freehills advised on all legal aspects of the project which is the first of its kind for Horizon Power and will mean Horizon Power will generate and sell electricity from the standalone power systems located on each of the premises to the affected households, rather than via conventional generation and poles and wires. The Herbert Smith Freehills team was led by partner Dan Zador, who was supported by senior associate Ana Parkinson and solicitor Maja La Rosa. Mr Zador said: “The use of standalone power systems to retail electricity, particularly in the Western World, is highly innovative. Over time, such technologies have the potential to displace - at least in part - the traditional electricity supply model. “How quickly this occurs depends on the cost of such disruptive technologies, as well as the legislative and policy settings of government.” Mr Zador said in Western Australia, the current legislative and regulatory framework was premised on a traditional supply model. “Horizon Power has been able to deploy this innovative electricity generation system despite dealing with a regulatory framework established well before standalone power systems or other disruptive and innovative technologies were a reality. “Horizon Power should be commended for their enthusiasm and determination in championing this off-grid supply approach that will benefit bushfire affected customers and, indirectly, all West Australian power consumers.”
Written by John on 04 December 2015.
♦ Recent Deals ♦ Australia, Perth
Squire Patton Boggs is acting for ASX, AIM and JSE listed Coal of Africa Limited ("CoAL") on its AU$126.4 million (£60 million) recommended takeover offer for ASX listed Universal Coal plc ("Universal"), made through a combined scrip and cash consideration, with a loan note alternative. The takeover will also constitute a reverse takeover for CoAL under the AIM rules. The two companies both operate in South Africa and have complementary business, development and funding profiles. The transaction, which is expected to complete in March 2016 subject to receiving necessary approvals, will create a leading listed coal mining company with a diverse portfolio of coal assets and an enhanced financial and market profile. The transaction is novel as Universal is an English company whose place of central management and control is outside the UK, therefore the takeover offer is not regulated by either the UK or Australian takeover regimes, although elements of both have impacted the structure and implementation of the transaction. As the offer includes a share consideration element, the offer document will also comprise an Australian prospectus, with relief being sought from the Australian Securities and Investments Commission to facilitate the offer. UK shareholders of Universal are excluded from the share consideration component and instead may only receive cash, or the loan note alternative. David Brown, CEO of CoAL, commented: "The combination of Universal's producing assets and CoAL's development portfolio, coupled with the excellent shareholder support ensures that the merger, as a first of its kind in the South African coal industry, will not be the last – we see the enlarged group as a springboard to creating a new coal mining force. The cross-border expertise of global firm Squire Patton Boggs has been invaluable in supporting us all through this important strategic process." The Squire Patton Boggs team advising CoAL is being led in the UK by Corporate partner Adam Hastings, with associates Hannah Graham and Victoria Kierans, and in Australia by Corporate partner Simon Rear based in Perth, supported by senior associate Chris Rosario and associate Ben Stewart. “This is a complex transaction,” explained Adam Hastings, “one that has required knowledge of multiple markets and regulatory frameworks, and a creative approach given the lack of a directly applicable takeover regime. It is particularly satisfying that we have been able to utilise our UK and Australian capital markets and natural resources practices to advise a much valued and long-standing client on such a significant and important transaction. I am delighted that the two teams have worked together so seamlessly, despite the distance and time difference.” “It has been excellent working with Coal of Africa on what has been a very complicated cross-border takeover, involving a hostile third party competitive bidder who also owns 30% of Universal,” added Simon Rear. “We look forward to progressing the transaction and the offer becoming unconditional, with Coal of Africa being successful in their takeover and development of Universal Coal.”
Written by Editor on 08 May 2015.
♦ Recent Deals ♦ Australia, Perth
Allen & Overy has acted as Australian counsel to Fortescue Metals Group in connection with its Rule 144A offering of USD2.3 billion of Senior Secured Notes due in 2022. The Senior Secured Notes are senior secured obligations and will rank equally in right of payment with all existing and future senior unsubordinated indebtedness. The proceeds of the issue, which completed on 27 April 2015, will be used by Fortescue to redeem outstanding 2017 and 2018 Senior Unsecured Notes, swap certain of the 2019 Senior Unsecured Notes for new Senior Secured Notes and to otherwise retire outstanding indebtedness maturing in 2019. Commenting, Allen & Overy Perth-based partner Peter Wilkes said: “We are pleased to continue our long relationship with Fortescue Metals Group, having previously advised Fortescue on all of its funding transactions since 2006, including its USD5 billion senior secured term loan B facility. This transaction will strengthen Fortescue’s financial position by extending its debt maturity profile and provide the company with considerable flexibility in coming years. This bond issue also demonstrates a continuing willingness by US capital markets to support the Western Australian mining sector”. Peter Wilkes led the Allen & Overy team from Perth, with support from senior associate Jonathan Siu and associate Matthew Del Rosso. Allen & Overy counsel Ka Sen Wong advised on the tax aspects of the transaction.
Written by John on 20 November 2013.
♦ Moves News ♦ Australia, Perth
Leading independent Australian law firm HWL Ebsworth Lawyers has announced that Geoff Stevens will be joining the firm as a partner within its Banking & Financial Services team in Perth. Geoff joins HWL Ebsworth from Lavan Legal where he was a partner. Geoff first became a partner with that firm in 1997, at which time it was the Perth office of Phillips Fox. Geoff has a broad banking and finance practice incorporating front end financing transactions, regulatory matters, insolvencies and workouts. Geoff's transactional finance experience includes corporate, structured, project and property finance and club and syndicated transactions. In the insolvency, reconstructions and workouts area, Geoff regularly acts for receivers, liquidators, administrators, banks and borrowers. Following Geoff's appointment, HWL Ebsworth's Banking & Financial Services team consists of 22 partners across its Perth, Sydney, Melbourne, Brisbane and Canberra offices and offers expertise in transactional banking, financial services regulatory, funds management and superannuation. "At the time of launching our Perth office, we flagged our intention to continue to recruit market leading practitioners to ensure that we offered our clients operating within Western Australia expertise in each of the core areas of law of importance to them" said Juan Martinez, HWL Ebsworth's Managing Partner. "A talented and highly regarded Banking & Finance offering is critical to our banking and non-banking clients alike, and Geoff Stevens provides us with this". "Geoff's appointment follows our recent Perth based appointments of Erica Hartley in our Workplace Relations and Safety team and Paul Wilson in our Property team. Geoff, Erica and Paul complement the outstanding expertise of the Perth office foundation team from Downings Legal" added Juan.