KWM helps ASX lister to break away from Woolworths Group

The firm also elevated 63 to senior roles in a recent promotions round

KWM helps ASX lister to break away from Woolworths Group
New special counsel

King & Wood Mallesons (KWM) has advised ASX-listed Endeavour Group as it demerges from Woolworths Group.

The firm said that the demerger reflects the companies’ vision to “create two simpler, more focused independent businesses that are better equipped for future growth.” Under the terms of the deal, eligible Woolworths Group shareholders obtained one Endeavour Group share for each share of Woolworths Group they held during the record date of the demerger.

“This process and resulting structure was designed to set Endeavour Group up to enable it to fulfil its vision for shareholders and customers through improving both in-store and digital experiences, and we’re delighted to have had the opportunity to assist the dynamic Endeavour Group team in the project,” KWM real estate and projects partner Carl Black said.

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The firm’s team assisted on all aspects of the deal, including the demerger deed, ASX listing issues, governance and financing arrangements, various digital and data-related considerations and partnership arrangements. It also guided both Endeavour Group and Woolworths Group on the many different commercial, legal, regulatory and governance aspects of the demerger’s implementation.

The team also advised on these aspects in relation to the separation and establishment of Endeavour Group as a standalone group, KWM said. The KWM team worked together with the legal team at Endeavour Group, which was headed by Peter Atkin.

“The successful listing of Endeavour Group is a significant milestone for all involved.  We are delighted to have been able to support Woolworths Group and Endeavour Group on this exciting project,” KWM M&A partner Meredith Paynter said.

Black and Paynter were joined by public M&A head David Friedlander, employment law partner Murray Kellock, banking and finance partner Yuen-Yee Cho, and data and technology partner Nicole Heller.

Promotion of special counsel and senior associates

KWM also bolstered its overall Australia team with the elevation of 11 lawyers to special counsel and 52 to senior associates in a recent promotions round.

The lawyers took on their new roles as of 1 July. Female lawyers dominated the promotions, with 54.5% of the new special counsel and 55.8% of the new senior associates being women.

“I am delighted to announce the promotions of our special counsel and senior associates. The promotions reflect their dedication and broad skills and our commitment to invest in our people and develop the next generation of our leaders,” Australia CEP Berkeley Cox said.

Senior associates
Senior associates

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