The sale of two entities formerly managed by Babcock & Brown – eircom Holdings and Lend Lease Primelife (LLP) – have been keeping corporate teams at three top-tier firms busy. Gilbert + Tobin advised both eirocom and LLP on the sales, while Allens Arthur Robinson advised Lend Lease on the acquisition of LLP and Mallesons Stephen Jaques advised a bid vehicle established by STT Communications on the eircom acquisition.
Last year, G+T advised eircom during the termination of its management arrangements with Babcock & Brown, which resulted in capital being returned to the company’s shareholders.
“The sale of eircom to STT was the result of a comprehensive strategic review process undertaken by eircom following the termination of its management arrangements with Babcock & Brown and involved a number of challenging features including the disposal of eircom’s assets in Israel, which was a condition of the transaction,” G+T senior lawyer Melissa Sanders said. G+T was part of eircom’s strategic review process, which lasted for 18 months.
In the sale of LLP, Lend Lease made an offer to acquire all securities in LLP that it did not already own.
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