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Corporate and M&A
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Bell Gully’s expanding commercial and M&A team ‘provide a good service’ according to clients. The practice has 21 partners dedicated to corporate and commercial law. Of these, Torrin Crowther and David Coull were appointed partners in January 2009. The most significant transaction for the practice in 2008 was acting for Danone in its sale of Frucor to Suntory for over NZ$1.4bn via tender. Another large instruction for the practice was on behalf of Babcock & Brown in its sale of part of its interest in Powerco for NZ$423m. James Gibson is the key contact in the Auckland office.
Clients commend Chapman Tripp for providing an ‘outstanding level of service’. Acting on the opposing side to Bell Gully, the practice acted for Queensland Investment on its acquisition of Powerco from Babock & Brown in February 2009. In March 2009, the practice acted on behalf of Quadrant Private Equity on its acquisition of a 49.9% stake in retirement home operator Summerset. Another highlight was acting for ProvencoCadmus in the sale of its Vantex division to Ingram Micro in April 2009. Bruce McClintock heads up the Auckland team, while Brigid McArthur leads the team in Wellington. Pip England is 'extremely good', 'thorough' and 'professional'. Clients also pick out Lindsey Jones and John Strowger for their experience.
‘One of the best’, Russell McVeagh is praised by clients for offering a ‘great’ level of service. In July 2008, the practice acted for the New Zealand Government and New Zealand Railways Corporation in the acquisition of Toll NZ rail and ferry, and the sale of Toll Trucking. A further highlight in 2008 was the instruction by Richina Pacific in the first transaction in a plan to restructure the company in an amalgamation with three Bermuda companies. Another acquisition the practice worked on was CHAMP Private Equity’s acquisition of Alleasing and Integrated Asset Management, worth A$150m. The practice is also advising Lion Nathan on its potential takeover by Japanese beverage company Kirin, worth NZ$44bn. The 16-partner practice is led by Pip Greenwood. Graeme Quigley is singled out as a ‘go-to’ lawyer for his ‘experience’ and ‘diligence’.
Buddle Findlay was involved in a number of key sales and purchases in 2008. Most significantly, the practice acted in the sale of Vector’s Wellington electricity distribution network to Cheung Kong Infrastructure for NZ$785m. In another key transaction, the practice advised Infratil and NZ Bus on their sale of Fullers Ferries to Souter Holdings for NZ$40m. The practice also advised Olam International in its purchase of shares in Dairy Investment Fund and its subscription to shares in Dairy Trust, that would bring its total investment in the company to NZ$101m.
The strengths of Kensington Swan’s 14-partner corporate practice include ‘depth of expertise’ and ‘good client service’. The practice acted on a series of acquisitions in 2008 including acting for Unison Networks in its acquisition of Etel, Michael Hill’s acquisition of 17 stores in the US and the instruction by Downer EDI Works New Zealand to advise on its acquisition of Excell. Rob Noakes is highlighted by clients for his ‘experience’.
Michael Harrod heads the corporate department at Mayne Wetherell. In February 2008, the practice advised ANZ National Bank, BOS International and Westpac regarding the acquisition of NZ Poultry Holdings by ANZ Capital and Pacific Equity Partners. The practice also acted for a syndicate of banks in relation to PGG Wrightson’s acquisition of half of Silver Fern farms.
A highlight of 2009 for the corporate and M&A practice at Minter Ellison Rudd Watts was the capital raising for Goldman Sachs JBWere in connection with its placement as manager and agent for investors in NZ$178m worth of shares in SKYCITY Entertainment Group. The practice frequently acted in the acquisition of shares and assets in 2008, including acting for BJ Ball in the acquisition of assets from shareholders such as Archer Capital.
Simpson Grierson’s 14-partner team, led by Kevin Jaffe, is split between Auckland and Wellington. Simon Vannini was promoted to partner in September 2008. The practice acted for Toll Group on the sale of the New Zealand national rail system back to the Crown.