SPB takes on big deals in sports, ASX 'market firsts'

The firm assisted in the pickup of Perth Glory FC and the re-domiciliation of Tamboran Resources

SPB takes on big deals in sports, ASX 'market firsts'

Squire Patton Boggs (SPB) has assisted the Pelligra Group with its acquisition of Perth Glory FC.

The transaction was completed under a short time frame and involved arrangements for club licencing, stadium leasing, sponsorships, and player contracts. The firm’s team collaborated with the Australian Professional Leagues’ in-house team as well as with the sell side advisors to facilitate a smooth transfer of ownership.

Australia corporate head Tony Chong spearheaded the SPB team with director Blair Strickland.

The Perth Glory FC competes in Australia's premier men's, women's and youth soccer leagues, under licence from the Australian Professional Leagues.

Re-domiciliation of Tamboran Resources

SPB Also helped ASX lister Tamboran Resources Corporation on a series of what the firm described as “market-first” transactions, including a “top-hat” scheme of arrangement in the Federal Court regarding the re-domiciliation of Tamboran Resources Limited and its subsidiaries (the Tamboran Group) to the US.

The re-domiciliation involved superimposing the newly incorporated entity Tamboran Resources Corporation in Delaware. Concurrently, Tamboran undertook a $55m institutional placement and an accelerated non-renounceable pro rata entitlement offer targeting both institutional and retail investors.

“This immediate succession of transactions (being a re-domiciliation scheme of arrangement, de-listing, re-listing and subsequent capital raise in the form of a placement and accelerated entitlement offer) is a market first on ASX”, SPB said.

Through these transactions, Tamboran Group is in place to commence its next growth phase, where it aims to speed up the Beetaloo Sub-Basin’s commercialisation.

“Led out of Australia, this multifaceted cross-jurisdictional matter has closely involved a number of the firm’s offices in the UK and US over the past 12 months”, lead partner Ashley Rose said. “We were delighted to assist Tamboran with its ongoing operations and look forward to following its journey as it continues to assist in Australia’s energy transition, and particularly to assist with the East Coast domestic market’s supply of energy”.

Rose received support from Sydney-based corporate partner Michael Gajic; litigation partner Graeme Slattery; tax strategy and benefits counsel Louise Boyce; litigation senior associate Jon Baker and corporate associates Sarah Roper, Sophie Davey and Georgia Mateer. Rose was also supported by corporate partners Jayson Marks (London), Michael Helmer (New Jersey) and Aaron Seamon (Columbus); tax strategy and benefits partner Jeffrey Koppele (New York); financial services senior associate Michael Fisher (Columbus); and corporate associate Gabrielle Galante (New York).

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