The $320m deal is expected to close in September
Top-tier global firms have come together to advise in a major merger of equals in the construction industry.
Global Construction Services (GCS), which is advised by Ashurst, have entered into a scheme of implementation deed with SRG Limited, which is advised by Herbert Smith Freehills (HSF). Both companies are listed on the ASX.
GCS will acquire all of the issued capital of SRF by way of a members’ scheme of arrangement in exchange for the issue of new GCS shares.
Subject to customary conditions and approvals, the deal, which is worth about $320m, is expected to close in September. SRG’s directors have unanimously recommended that shareholders of the company approve the scheme in the absence of a superior offer, Ashurst said.
Leading the Ashurst team are corporate transactions partners Antonella Pacitti and Roger Davies.
Argonaut is GCS’ financial adviser. Lead financial adviser to SRG is Sternship Advisers. Co-financial advisers to SRG are Hartleys and Euroz.
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