Plus: Clayton Utz advises on a A$670 million merger and Johnson Winter & Slattery act on an education purchase
Minter Ellison is acting as adviser on all legal aspects of the iSentia Group Limited’s IPO and listing.
The media intelligence group has announced an initial public offering of ordinary shares and listing on the ASX. The Minter Ellison team was led by partners Daniel Scotti and Ricky Casali.
“This IPO demonstrates the continuing strength of the Australian IPO market and the excellent valuations achievable by quality issuers,” Scotti said.
Shares representing approximately 70% of iSentia's capital are being offered at $2.04 per share, implying an enterprise value of close to A$460 million. The joint lead managers, Macquarie Capital and UBS Australia, were advised by Gilbert+Tobin.
QLD coal mine sold to Singaporean company
Corrs Chambers Westgarth has advised Peabody Energy on the sale of the Wilkie Creek Coal Mine to Bentley Resources.
Partner Bruce Adkins and senior associate Nick Thorne advised Peabody Energy on the sale.
Peabody Energy has announced that it has entered into a sale and purchase agreement with Singapore-based Bentley Resources to sell its Wilkie Creek Mine in Queensland's Surat Basin for approximately US$70 million in cash and the assumption of rail/port obligations and other liabilities, with closing subject to certain conditions.
Wilkie Creek has been closed since December 2013.
Clayton Utz advise on A$670 million merger
Clayton Utz is representing financial services company SFG Australia Limited (SFG) on the proposed merger with IOOF Holdings Limited (IOOF), valued at approximately A$670 million.
Corporate partner Jonathan Algar led the Clayton Utz team advising on the transaction, which included partner Karen Evans-Cullen and senior associates Adam Foreman and Peter Debney.
The merger will create the third largest advice business in Australia by funds under advice and one of the largest listed wealth management businesses in Australia, with a combined market capitalisation of over A$2.5 billion.
On 16 May 2014, SFG entered into an agreement with IOOF under which IOOF will acquire, via scheme of arrangement, all of the shares in SFG. Subject to shareholder approval, the transaction is expected to complete in August.
JWS act on education purchase
Johnson Winter & Slattery have acted for Vocation Limited in its acquisition of Real Institute, a national education and training provider.
The JWS team was led by M&A partners James Rozsa and Byron Koster, banking partner Jim Hunwick and employment partner Jan Dransfield.
The total acquisition consideration of A$54 million will be funded through a mix of cash and shares, being an initial payment of A$40 million cash and A$7 million of Vocation shares, followed by an additional payment of shares of $7 million subject to the achievement of forecast results.
JWS acted for Vocation on its successful IPO on ASX in December 2013.