Legal DealFolio - SABMiller bid for Foster's

Allen & Overy is advising SABMiller on its proposed high-profile AUD11.5 billion takeover of one of Australia's largest companies, independent brewer, Foster's Group Limited, by scheme of arrangement. According to mergermarket, this is the largest deal involving an Australian target this calendar year. The transaction is also an Australian first: it represents the first time that Australia's corporate regulator, ASIC, has allowed a hostile bidder to switch to a scheme of arrangement and is a pioneering development in the Australian market. Commenting on the deal, partner Aaron Kenavan said: "This is a great example of how A&O can effectively execute a large cross-border transaction seamlessly. There are also some novel aspects to the deal that make advising on this transaction very exciting and rewarding. Together with our role advising Equinox Minerals on its takeover by Barrick Gold, our work on the SABMiller / Foster's deal means that Allen & Overy has acted on the two biggest M&A deals involving ASX-listed targets in calendar 2011." The deal team was led by M&A partner Aaron Kenavan, antitrust partner Dave Poddar, M&A partner Michael Parshall and banking partner Adam Stapledon. All four are based in our Sydney office. The completion of this transaction is subject to shareholder and court approval which is anticipated to occur in late 2011.

Deal Date:	29-09-2011	Practice Area:	Corporate and M&A
Deal Title:	SABMiller bid for Foster's	Industry:	Beverages
Description:	Allen & Overy is advising SABMiller on its proposed high-profile AUD11.5 billion takeover of one of Australia's largest companies, independent brewer, Foster's Group Limited, by scheme of arrangement. According to mergermarket, this is the largest deal involving an Australian target this calendar year. The transaction is also an Australian first: it represents the first time that Australia's corporate regulator, ASIC, has allowed a hostile bidder to switch to a scheme of arrangement and is a pioneering development in the Australian market. Commenting on the deal, partner Aaron Kenavan said: "This is a great example of how A&O can effectively execute a large cross-border transaction seamlessly. There are also some novel aspects to the deal that make advising on this transaction very exciting and rewarding. Together with our role advising Equinox Minerals on its takeover by Barrick Gold, our work on the SABMiller / Foster's deal means that Allen & Overy has acted on the two biggest M&A deals involving ASX-listed targets in calendar 2011." The deal team was led by M&A partner Aaron Kenavan, antitrust partner Dave Poddar, M&A partner Michael Parshall and banking partner Adam Stapledon. All four are based in our Sydney office. The completion of this transaction is subject to shareholder and court approval which is anticipated to occur in late 2011.
Financial Center:	Sydney	Value:	100.01-500.00
Advised Party:	Acquiror	Law Firm	Allen & Overy
Target Company Jurisdiction:	Australia	Acquiror Jurisdiction:	United States
Classification:	Strategic Buyer Acquisitions Private Company	Lawyer	Aaron Kenavan

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers