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

A clear highlight for the firm last year saw it advising Babcock & Brown on the sale of part of its interest in Powerco for NZ$423 million. The firm also advised French company Danone Asia on the NZ$1.4 billion sale of the Frucor Group to Suntory through a competitive bid auction.

Another acquisition highlight saw Contact Energy and Origin Energy call on Chris Gordon to advise over the purchase of oil and gas assets from Swift Energy New Zealand for NZ$115 million. The deal will allow Contact to develop an underground gas storage facility.

A final highlight was the firm’s work for Carter Holt Harvey on the competitive sale process of its New Zealand MDF business including a manufacturing plant in Rangiora.

Chapman Tripp was active within the private equity market last year including acting for local house Knox Investment Partners on the NZ$42.5 million acquisition of Canprint Communications and Union Offset. The team also advised Queensland Investment Corporation over the NZ$420 million acquisition of Powerco from Babcock & Brown. Another highlight saw the firm advising Direct Capital on its acquisition of a 45% stake in NZ King Salmon.

On the sellers side the firm was called in by Archer Capital to act on the sale of BJ Ball to Pencarrow Private Equity.

Russell McVeagh is heavily involved in New Zealand’s re-nationalisation of its rail system and ferry service including the acquisition in July 2008 of Toll New Zealand’s infrastructure assets. The firm was also called in by the crown to advise on the associated merger with New Zealand Railways in September 2008.

Another substantial deal saw the team advise Lion Nathan on Kirin’s NZ$44 billion takeover offer. The deal is subject to shareholder approval.

The tea also acted for Origin Energy over the attempted A$13.8 billion takeover by the BG Group. The bid was unsuccessful after Origin announced a joint venture agreement with ConocoPhillips.

One of Buddle Findlay’s biggest deals saw it act for Vector on the NZ$785 million sale of its electricity distribution network in Wellington to Cheung Kong. Another substantial deal saw the team advise Suntory over the NZ$1.4 billion acquisition of Frucor Beverages from Danone Holdings.

Another highlight saw the firm advise Daiken New Zealand over the acquisition of the business and assets of an MDF Mill in Rangiora from Carter Holt Harvey. In November 2008, HRL Morrison & Co also called in the firm to act on the acquisition of a 26% stake in Fisher Funds Management.

Harmos Horton Lusk’s core focus is to provide corporate and transactional legal advice in takeovers, mergers and acquisitions, board and strategic advice among others.

The firm’s directors have many years experience in corporate and commercial law. John Lusk and Andrew Harmos were in partnership in one of New Zealand’s leading corporate law firms for 39 and 16 years respectively.

Head of M&A at Minter Ellison Rudd Watts, Cathy Quinn, had a busy year including acting for Southern Cross Health Trust over the sale of its hospital assets to Southern Cross Hospitals. Quinn was again involved when the firm acted for Gillies Hospital Property Partnership in its NZ$12.3 million acquisition of a property in Auckland.

A further highlight was the firm’s work for SC Johnson over its acquisition of the Innovair business assets from the Innovair Group. Another deal saw the firm advise BJ Ball over its acquisition of an SPV from the AMP Pencarrow fund.

One of the biggest deals Simpson Grierson worked on last year saw it act for the Toll Group on the sale of the national rail business to the New Zealand government for approximately NZ$700 million.

The team also acted for the BG Group over its lapsed NZ$8.08 billion bid for Origin Energy. Because Origin owns Contact Energy the bid could not go ahead without a separate bid for Contact. The firm managed to secure an exemption from this law.

On the sellers side, the team is acting for Matariki Forests on the sale of 140,000ha estate. The deal is expected to be worth in excess of NZ$1 billion.

Additionally the firm acted for Japanese beverage company Kirin Holdings over its NZ$8.2 billion takeover offer for brewer Lion Nathan.

A clear highlight for the firm last year saw it advising Unison Networks on its acquisition of transformer manufacturing company Etel Limited. The team also advised Champ Ventures and portfolio company Amdel over the NZ$400 million sale to Bureau Veritas Australia.

Mayne Wetherell was called on by BOS International last year to advise over its announced acquisition of Strategic Investment Group from Allco for NZ$90 million, though the deal did not close. Other highlights included work for Menicon over its acquisition of Rose K International and advising Cadmus in its NZ$75 million merger with the Provenco Group.

Quigg Partners last year advised the US Treasury Department over the New Zealand aspects of its takeover of General Motors. Another highlight saw the firm advising Simplot over the NZ$71 million acquisition of Mr Chips. Wright Express also called in the firm to advise over its acquisition of the business assets of Financial Automaton.