Firm advises banking giants on the deal’s debt financing
MinterEllisonRuddWatts has advised banking giants Australia New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), and Mitsubishi UFJ Financial Group (MUFG) as lead underwriters on the debt financing of Infratil Limited’s acquisition of a controlling stake in Pacific Radiology Group.
The transaction is part of the Wellington-based infrastructure investment firm’s strategy of building a significant healthcare infrastructure platform in the Asia-Pacific region, having recently acquired Australian diagnostic imaging company Oscan Group for $289.6m.
Pacific Radiology is New Zealand’s largest diagnostic imaging service provider with an implied enterprise value of $867m. The company employs about 100 radiologists across 46 clinics nationwide.
The MinterEllisonRuddWatts deal team was comprised of banking partner Steve Gallaugher, senior associate Sam Gunson, and solicitor Arthur Knaggs. The group played a key role in ensuring that Infratil had the debt financing assurances required to complete the acquisition within a short timeframe.
“This transaction was a great example of advisors working constructively to achieve a great outcome for all stakeholders,” said Gallaugher. “We really enjoyed working with all parties on the legal aspects of this significant debt financing.”