Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

Greenwoods & Freehills’ tax team “does what’s required and makes sure the work is done in an appropriate timeframe”, says a client.A highlight for the firm was advising Commonwealth Bank of Australia in a deal that created a new structure with the Westfield ... [more]

Greenwoods & Freehills’ tax team “does what’s required and makes sure the work is done in an appropriate timeframe”, says a client.

A highlight for the firm was advising Commonwealth Bank of Australia in a deal that created a new structure with the Westfield Trust, a 50% joint venture partner in 54 of the Westfield Group’s centres in Australia and New Zealand. This was a first ‘demerger’ by a listed Australian stapled group using a new trust cloning tax relief concession.

The team acted as tax adviser to BHP Billiton on its proposed Western Australian iron ore joint venture with Rio Tinto. The project was eventually terminated due to unfavourable business conditions but it would have been the largest M&A deal in Australian corporate history.

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