Banpu off-market takeover offer for Hunnu Coal Limited – A$477 million
Firm: Allen & Overy
Lead Lawyer: Tony Sparks, Aaron Kenavan, Barry Irwin, Arkrapol Pichedvanichok
Client: Banpu Public Company subsidiary Banpu Minerals
Firm: Steinepreis Paganin
Client: Target Company Hunnu Coal Limited
• Banpu Minerals has submitted an all cash off-market takeover offer for Hunnu Coal Limited. Hunnu’s board of directors has unanimously recommended that shareholders accept the proposal, valuing Hunnu’s fully diluted equity at A$477 million
• Through this transaction, Banpu gains access to Hunnu's coking thermal coal deposits and exploration program in Mongolia
• Allen & Overy also advised its client Banpu Minerals when it acquired a 12 percent placement in Hunnu earlier in the year
Ivanhoe institutional placement and capital raising – A$180 million
Firm: Freehills
Lead Lawyer: Philippa Stone
Client: Underwriters (UBS AG, Australian branch, and Morgan Stanley Australia Securities Limited)
Firm: Minter Ellison
Lead Lawyers: Ashley Dayman, Jeremy Blackshaw
Client: Ivanhoe Australia
• Ivanhoe has successfully completed the institutional placement of A$88 million as part of a planned A$180 million equity capital raising. The placement will be raised via the issue of approximately 63 million new shares at A$1.39 (C$1.41) per share
• Freehills advised the same underwriters, UBS AG and Morgan Stanley, on Ivanhoe’s A$269 million entitlement offer and institutional placement in 2010
• Minter Ellison also acted for client Ivanhoe Australia on the institutional placement in 2010 as well as Ivanhoe’s initial IPO and listing on the ASX in 2007, for a market capitalisation of A$625 million
GI Dynamics INC IPO – A$80 million (market cap 304 million)
Firm: DLA Piper
Lead Lawyers: David Morris, Catherine Merity, Alec Christie, Jock McCormack
Client: GI Dynamics
Firm: Minter Ellison
Lead Lawyer: Leigh Brown
Client: Lead Manager Inteq
• This IPO represents one of largest for 2011. The IPO successfully raised A$80 million and GI Dynamics has a market capitalisation of A$304 million following the transaction
• The team from DLA Piper advised GI Dynamics on all corporate, tax and IP law matters related to the transaction with assistance from affiliate offices in Hong Kong, Singapore, London and Wellington
• Minter Ellison has advised client Inteq on various other Australian IPOs. Prior to this IPO for GI Dynamics Inteq acted as lead manager to REVA Medical on its A$85 million capital raising and IPO with market capitalisation of A$360 million
Bendigo and Adelaide bank head office lease – Undisclosed
Firm: Freehills
Lead Lawyer: Jane Hodder
Client: Bendigo and Adelaide bank limited
Firm: Mallesons Stephen Jaques
Lead Lawyer: Andrew Erikson
Client: Developer Pacific Shopping Centres Pty Ltd
• The proposed building, billed for completion in November 2013, is a 14 level 5 star Greenstar office, and will host commercial and retail space
• Freehills has mostly advised major developers in their capacity as landlords, including Lend Lease for CBA and General Property Trust, Multiplex and AMP in relation to the Darling Park development however the firm hopes to continue working with Bendigo and Adelaide bank
• Bendigo and Adelaide Bank was previously advised by Allens Arthur Robinson and Johnson Winter & Slattery when the two banks, Benigo and Adelaide, decided to merge. Allens Arthur Robinson also advised the merged bank on its A$300 million equity raising conducted in 2009
• Mallesons partner Andrew Erikson has been involved in numerous other commercial property transactions in recent times. Clients include Grocon, APN Group, Stockland, Multiplex Developments and Springfield Land Corporation
MetroCoal placement of shares to DADI Engineering Development – A$24 million
Firm: HopgoodGanim
Lead Lawyer: Michael Hansel
Client: MetroCoal Limited
Firm: McCullough Robertson
Client: Tenement to Terminal Limited (TL3) - party to related export agreement
• MetroCoal has issued a placement of 32 million shares to Chinese coal group DADI Engineering Development, raising A$24 million before costs
• MetroCoal also entered an agreement to export 15 million tonnes of coal from a proposed new terminal in Gladstone as part of plans to export more from the Southern Bowen and Surat Basins. HopgoodGanim partner Hansel also advised on the export agreement
• DADI Engineering Development carried out all its legal work in-house