Global firms unite for major construction merger of equals

The $320m deal is expected to close in September

Global firms unite for major construction merger of equals

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.

 

Related stories:
Global firm eyes opportunities as it plans Luxembourg launch
Legal giant leads in $576m IPO

 

Recent articles & video

Lander & Rogers announces historic commitment to global net-zero emissions target

Mills Oakley brings in Thornton Storgato Law team

Hamilton Locke acts for Pangolin Associates on majority sale

Clifford Chance expands global energy and infrastructure practice

Owen Hodge Lawyers partner on fashion tips from Miranda Priestly and career progression

Allens advises joint lead managers and underwriter on 29Metals $151m capital raise

Most Read Articles

The top employers in Australia's legal profession for 2023

Former HSF partner joins Clifford Chance in Sydney

Owen Hodge Lawyers partner on fashion tips from Miranda Priestly and career progression

Lander & Rogers announces historic commitment to global net-zero emissions target